Growth & Jobs | Farmer urges fellow farmers to leverage financing to grow business

For more than a decade, St Elizabeth farmer Glenford Brown has relied on financing from JN Bank Small Business Loans to keep his farming operation growing, despite fluctuating market prices and rising production costs. Having experienced first-hand the benefits of formal financing, the veteran farmer is now encouraging others in the agricultural sector to leverage same.

“I would encourage anybody who want to ‘balance’ themselves and turn themselves around, go ahead, trust God and go to the institution, talk with an officer,” said Brown, who cultivates sweet potatoes, Irish potatoes, string beans, cucumbers, sweet peppers and carrots on approximately five acres of leased land in the Denegal district of Brighton, St Elizabeth.

Having been farming since he was about 14 years old, Brown said he understands the financial pressures that many farmers face, particularly when market prices decline.

“Sometimes you have the harvest, but the price that it is [going] for [is low] because the things are plenty at times. Even though you may have plenty, you don’t make much,” he explained.

Brown, who employs up to six workers during peak periods, said financing from JN Bank Small Business Loans has enabled him to purchase seeds, fertiliser, herbicides and pesticides while helping him manage his household expenses during slower periods.

“It helped me a lot. If I tell you that it don’t help me, I would be ungrateful to God. It ‘balance’ me out. It even help me with my home and now [that] my daughter is in university. It helped me [with] the farm. It help provide for my table; it help me in every single way,” Brown related.

He also credited Marie Hanson, his client relations officer at the JN Bank Small Business Loans office in Santa Cruz, for providing consistent support throughout the years.

[She’s] a warm person. Miss Marie never let me down and I never let her down either. From that day until now, she’s the only person who I deal with; a very nice lady to do business with,” he said.

Brown who consistently honours his loan agreements, stressed the importance of repaying loans on time so that others can benefit from the same opportunities.

“I would encourage anyone who go and get a loan from any institution, remember to [re]pay,” he advised.

“Remember your difficult time, and that somebody helped you. Somebody else out there needs the same help. When you refuse to pay back what somebody lends you, you make matters worse for you and make matters worse for others,” he maintained.

rich and fulfilling business

His advice echoes the message shared by Jody-Ann Morgan, client relations officer in the JN Bank Small Business Loans division, during the 72nd staging of the Denbigh Agricultural, Industrial and Food Show in May Pen, Clarendon, where JN Bank was a title sponsor.

Morgan noted that agriculture remains one of Jamaica’s most important economic sectors, accounting for approximately 20 per cent of employment, with about 80 per cent of the sector comprising small farmers.

“Our mission is focused on enriching the lives of Jamaicans. We have helped hundreds of thousands of businesses over the past three decades to grow, including those in the agricultural sector. Agriculture is a rich and fulfilling business, deeply connected to every other sector and industry across Jamaica,” she emphasised.

She pointed out that JN Bank has maintained a longstanding relationship with the Denbigh Agricultural, Industrial and Food Show because of its importance to the farming community and the wider agricultural sector.

Morgan encouraged farmers to strengthen and expand their businesses by taking advantage of JN Bank’s specialised financing solutions.

The client relations officer explained that JN Bank’s Agricultural Loan offers financing from $200,000 to $500,000, while the Agricultural Plus Loan provides more than $500,000 up to $1.5 million. The loans may be used to finance agricultural projects, purchase seeds, livestock and farm equipment, or undertake general farm improvements.