Growsel partners with a range of organizations, including NGOs, FBOs, microfinance institutions (MFIs), social enterprises, agricultural training schools, agricultural cooperatives, and community development centers that are experience with agricultural training, lending and support programmes, and MUST be based in the community is supporting.
A Growsel Trustee MUST be a practicing agricultural experts. MUST have existing relationship working with smallholder farmers in particularly community where is operating. HAVE experience with agricultural training, lending and support programs, and MUST be based in the community is supporting.
Smallholder farmers: Identification, Screening, Verification, Registration, Endorsement, Application guidance, Fundraising process, Vouch and endorse the strength of character of farmers, Support through Growsel’s application process, Amplify Growsel’s presence in your community, Farmers Meet-ups and Training of farmers Farm Management: Input disbursement, Inputs supervision, Fund disbursement, Farm Monitoring and Evaluation, Extension Services, Global best practice Cultivation, Bi-week farm report (photo updates, write-ups and videos updates) Farm-loan Repayment: Repayment, Risk Management, Off-taker Monitory, Harvest supervision, Secure available farmers to off-taking arrangement, Make repayments to Growsel
In order to apply for Growsel Trustee, an organization MUST display the following: Display a strong commitment to serving the needs of under-financed, vulnerable, and/or excluded smallholder farmers. Demonstrate a need for charitable capital. Operate an existing lending program with portfolio quality that is in line with market context and industry standards, or be prepared and legally able to set up a lending program. Provide a specific proposal for using Growsel’s capital to fund loans with a) high social or environmental impact, and b) pricing that is in line with market context and industry standards. Farm-loans can ONLY be disbursed as agricultural inputs- tools or services. Be able to post farm-loans equal to their initial approved credit line ranking in the first 12 months on the Growsel website, prompt repayment and capacity to grow in subsequent years. Have assets or operating revenues of at least 2Million USD or equivalent to in local currency. Be able to legally accept and repay funds in Nigerian Naira or US Dollar debt capital and manage currency risk. Organizations should fully investigate foreign investment policies prior to applying for partnership with Growsel. Be legally registered, licensed, and in good standing. Please note that Growsel is currently unable to accept applications from organizations registered outside West and East Africa. This list may change on an ongoing basis. Growsel may also consider additional criteria when evaluating new partnerships in certain regions, countries, or sectors.
Growsel strongly recommends that Trustee hire or appoint a dedicated Growsel Coordinator to manage the Growsel program and serve as the primary point of contact for Growsel staff. Traits of a successful Growsel Coordinator include the following: Good at motivating and coordinating other staff, Strong writing skills in English Language, Comfortable communicating with Growsel staff, Comfortable using computers and learning new technologies, Familiarity with basic accounting and loan principles, available and strong internet connectivity and electricity supply
As a Growsel Trustee, your organisation has the huge opportunity of helping smallholder farmers to help themselves, support their families in your community. Becoming a bank to the poor and making a difference. Broaden depth of impact by leveraging Growsel as an additional tool for your organization. Enhance your brand through visibility on Growsel site and content. Opportunity to create jobs and reduce poverty in your community, and finally, make up to 5% to 10% extra income overseeing and coordinating Growsel local farms in your community.
As a Growsel Trustees will be leveraging on Growsel's financial inclusion and crowd-funding program as a tool to support and empower smallholder farmers in your community. Working with Growsel field team to help smallholder farmers keep their families stable and support communities.
No! Becoming a Growsel Trustee is free! If you meet the requirements, you would be asked to visit any Growsel partner bank to open a Growsel Collection Scheme Account to enable you serve as a Growsel Trustee to our smallholder farmers in your community.
Yes! As a Growsel Trustee, Growsel will enhance your visibility on the Growsel.com website, and sometimes promote your work through its marketing activities such as social media channels, newsletters and others.
Growsel developed the Trustee Programme to create jobs, reduce poverty in local communities across Africa, as well extend the Growsel peer-to-peer crowd-funding and agricultural technology Initiatives to rural African in accordance with Growsel’s vision of changing lives, building opportunities.
Growsel Trustees impacts and STAR progression are measured on successful endorsements, cultivation and repayments by smallholder farmers. A Growsel Trustee’s ratings will be regarded as positive if he achieves the following feats.
Yes! Growsel Trustees are categorized into stages to determine how much farm-loan amount a Trustee can request at a given time.
Yes! Growsel reviews all applications and submissions by potential Trustees to resolve any outstanding questions and discuss details of the potential partnership.
An organization seeking to becoming a Growsel Trustee must first submit an application and the following documentation process. Detailed information about the organization’s registration as a Non-Governmental Organization, Faith Based Organization Social Empowerment Business including its mission and history, products and services, governance and management, and certificate of incorporation, technical and operational infrastructure. Supporting documents, including, expertise, valid identifications, passport photographs, referees, contact details, financial projections, impact studies and/or bios of board and executive director.
Oh Yes! Potential Trustees are expected to specify why they want to become a Growsel Trustees and how they intend to use Growsel’s crowd-funding and agricultural technology initiatives in their communities.
Growsel Trustee Managers and Field Managers will normally visit the organization for on-site due diligence. Some organizations may not receive an on-site visit due to risks of traveling to the place where the organization is located. In those cases, the Growsel Trustee Managers and Field Managers will meet with representatives of the organization in an alternate location or leverages external sources, such as references and other rating information. During an on-site visit, the team interviews members of the executive board and management team, finance officers and smallholder farmers. In addition, review documentation, reports and the management information system of the organization.
Growsel Trustee Managers & Field Managers has the duty and responsibility to review and prepare a due diligence report for submission after review of potential Trustee application and on-site visit.
Growsel review pricing structure of each farm-loan product that the Trustee proposes to fundraise on the Growsel platform. Many factors impact what it costs an organization to provide financing, including the local disposable income, local currency risk, local agricultural supplies, market fluctuations, demand and supply, and cost of inputs. There is also a relationship between the crop, farm size and term of a farm-loan and its average cost: small farm-loans with short terms cost more to administer and thus have a higher average interest rate for smallholder farmers. Despite this complexity, Growsel sets a firm maximum percentage that a Trustee can make from a smallholder framer for a farm-loan, but we focus the review on ensuring that the pricing is in line with local market context.
Growsel Trustees are categorized into stages to determine how much farm-loan amount a Trustee can request at a given time. Trustees in the lowest credit ratings undergo a lighter level of due diligence and hence do not receive a risk rating. Instead, in places where a risk rating would normally appear on Growsel platform, these Trustees are not verified or put on hold.
We assess potential Growsel Trustees based on their focused areas empowerment and support such as Agricultural Support Initiatives, Agricultural Incubation, Smallholder Farmers Support, Anti-Poverty Focus, Women Empowerment, Vulnerable Group Focus, Family and Community Empowerment, Entrepreneurial Support, Peer-to-peer Support and Agricultural Innovation.
The Growsel Business Team gives final approval, soft rejection or hard rejection to potential Trustees after studying and reviewing the due diligence report of the Growsel Trustee Managers & Field Managers submissions.
After the final review of your Growsel Trustee application, our Trustee team would communicate your approval, soft rejection or hard rejection.