Question on: SS1 Agriculture - Sources of farm financing
What are the key advantages and disadvantages of borrowing from money lenders for farm financing?
View related lesson
Ask EduPadi AI for a detailed answer
Advantages of borrowing from money lenders include quick access to funds, less stringent credit requirements, and flexibility in loan terms. However, disadvantages include higher interest rates compared to formal financial institutions, potential lack of legal protection, and the risk of exploitative lending practices. Borrowers should exercise caution and ensure clear terms and documentation.
Add your answer
Please share this, thanks!
No responses