Loan Schemes for Goat Farming
There are few government schemes and subsidies for entrepreneurs to start goat farming business.
Goat Farming Loan from SBI
The loan amount for goat farming will be considered depending on the business needs and the applicant’s profile. The applicant must provide a goat farming business plan that has all-important business details like area, location, goat’s breed, equipment used, working capital invested, budget, marketing strategies, details of workers, etc.
Once the applicant meets the goat farming eligibility criteria, then SBI will sanction the fund as per the requirement for commercial goat farming. SBI might ask the applicant to submit the land papers as collateral. The interest rate shall vary from applicant to applicant and lender to lender.
NABARD Loan for Goat Farming
National Bank for Agriculture and Rural Development’s (NABARD’s) motive is to support small and medium farmers to boost the production of livestock farming that increase employment opportunities in India.
NABARD offers goat farming loans with the help of various financial institutions, such as
- Commercial Banks
- Regional Rural Banks
- State Cooperative Agriculture and Rural Development Banks
- State Cooperative Banks
- Urban Banks
- Others eligible for refinancing from NABARD
NABARD’s scheme provides loan to people who fall under the poverty line, SC/ST category gets a 33% subsidy on goat farming. And other categories such as OBC and general category will get 25% subsidy of maximum Rs. 2.5 lakh.
Goat Farming Loan from Canara Bank
Canara bank provides Sheep and Goat rearing loans to its clients at the best interest rates. They will provide you loan once you pass the eligibility criteria of goat farming. The loan amount will be disbursed as per business requirements and you can repay them in 4 to 5 years.
IDBI Bank Loan for Goat
IDBI bank provides loans for sheep and goat rearing under its scheme ‘Agriculture Finance Sheep & Goat Rearing’. The loan amount they disburse for sheep and goat rearing is a minimum of Rs. 50,000 and maximum are up to Rs. 50 lakh.
Mudra loan for Goat Farming
Mudra loan scheme doesn't cover the farming sector, therefore, you can't avail of a mudra loan for goat farming. Mudra offers business loan up to Rs. 10 lakh to individuals and businesses engaged in the non-farming sector. However, there are other loan schemes and subsidies that you can avail of for goat farming. Goat farming shed plan should be present before you avail of a goat loan.
Documents Required for Goat Farming Loan Application
- 4 Passport size photographs
- Last 6 months’ bank statement
- Address proof
- Income Proof
- Aadhar Card
- BPL card, if available
- Caste certificate, if SC/ST/OBC
- Domicile certificate
- Goat farming project report
- Original land registry papers
To avail MSME loan of up to 7.5 lakh you can visit Ziploan. At Ziploan we don't require many documents. You will get the business loan within 3 days* once you meet the eligibility criteria and submit the required documents.