Source One of­fers as­sis­tance to start-up and ex­ist­ing farm­ers


CUS­TOMERS of Source One Feeds and Agri­cul­tural Sup­plies lo­cated in West­more­land are grate­ful to the com­pany for the ex­tended credit lines they have been of­fer­ing since the on­set of the novel coro­n­avirus pan­demic, which they say have as­sisted them in keep­ing their busi­nesses in op­er­a­tion.

“The ex­ten­sion on credit is a ma­jor boost for any busi­ness. It is the big­gest thing for us. We were able to pur­chase fer­tilis­ers for our fields and get our farms up to be­gin pre­par­ing for the new tourist sea­son,”

Shel­don Wil­liams, a pineap­ple and pig farmer who has been a cus­tomer of Source One for over 10 years shared with the Busi­ness Ob­server.

Source One also con­tin­ued their Get a Dolla Loan pro­mo­tion, which has been avail­able to small farm­ers across West­more­land, Hanover, St El­iz­a­beth and St James since 2019.

“We recog­nised that a lot of farm­ers have an is­sue with fund­ing,” Garth Clarke, chief op­er­at­ing of­fi­cer of Source One said. “If you’re try­ing to ac­cess a loan through other fi­nan­cial en­ti­ties, col­lat­eral like land and property are re­quired. A lot of these peo­ple don’t have land and col­lat­eral, so they can’t bring in a ti­tle, and will more than likely not qual­ify for a loan. You don’t need that with the Get a Dolla Loan.

“The loan is a col­lab­o­ra­tion between Dolla Fi­nan­cial Ser­vices, Hi-pro Feeds and Source One,” Clarke ex­plained.

Clarke in­di­cated that the as­so­ci­a­tion with Dolla Fi­nan­cial is ideal be­cause they have lo­ca­tions all across the coun­try, and Hi-pro feeds of­fers a full range of farm­ing sup­plies.

To date, over $2 mil­lion in loans have been pro­cessed, with all loans re­paid, and some clients reap­ply­ing up to four times.

Clarke ex­plained that the process is seam­less and is of­fered to new and ex­ist­ing farm­ers. Cus­tomers can sub­mit their ap­pli­ca­tion at Source One or any Dolla Fi­nan­cial lo­ca­tion.

Fol­low­ing a site as­sess­ment, the loan can be made avail­able within 48 hours. Loan amounts range from $10,000 to $500,000, is­sued in the form of Hi-pro feeds and farm equip­ment. Source One is the only com­pany of­fer­ing a loan of this kind on the is­land.

Since the on­set of the novel coro­n­avirus out­brak, peo­ple who have lost their jobs have turned to en­trepreneur­ship. Farm­ing has been one of the pop­u­lar in­dus­tries that many are turn­ing to.

WIL­LIAMS...WE were able to pur­chase fer­tilis­ers for our fields. Get our farms up to be­gin pre­par­ing for the new tourist sea­son

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