Determinants of Agropreneurs Accessibility to Credit Sources in Egbeda Local Government Area of Oyo State

This study was conducted to ascertain the determinant of Agropreneurs accessibility to credit sources in Egbeda Local Government Area of Oyo State. Specific objectives of this study were designed to; described the socio economic characteristics of Agropreneurs, identified the credit sources among Agropreneurs, identified the Agropreneurs ventures existing, determined the demand for business loan for Agropreneurs, examined the factors that influence Agropreneurs participation in credit market in the study area and determined the factors militating against access to credit by Agropreneurs in the study area, Multi stage sampling technique was used to select 120 respondents for this study. Questionnaires were used to elicit information from the respondents. Both descriptive and inferential statistics were used to achieve the objectives of the study. The results on socio economic characteristics of the respondents showed that 34.2% of the respondents were within the age of 31-40 years, majority (76.7%) of the respondents were married, above average (55.8%) were Christians, above average (58.3%) were male, half (55.0%) of the respondents had tertiary education, most (65.8%) of the respondents had 1-5 household members, average (50.0%) of the respondents had farming as their secondary occupation, majority (86.7%) were member to cooperative society, 40.8% of the respondents had 11 and above years of experience, majority (56.7%) of the respondents had no access to extension services. The result on credit sources among Agropreneurs further revealed that personal savings (95.0%) was major respondents sources of credit, results on Agropreneurs ventures existing showed that livestock feed business(93.3%) was the most Agropreneurs ventures existing in the study area and interest rate (74.2%) the major factor that influence Agropreneurs accessibility to credit source. Also, majority (86.7%) demanded for N151,000 and above. Results on factors militating against access to credit by Agropreneurs showed that strict terms and condition of the financial institution (mean=2.34) and fear of risk (mean=2.29) were the very serve factors militating against access to credit by Agropreneurs. The results of the hypothesis showed that there were significant relationship between the socio economic characteristics of the respondents and their demand for business loan by Agropreneurs in the study area with R2 of . From the finding of this study, it is recommended that; financial institution should reduce their strict terms and conditions as this will enable the Agropreneurs to acquire credit they need for their business.