A long-term loan for an agricultural enterprise could be obtained from
a
micro-finance banks
b
commercial banks
c
money lenders
d
cooperative societies
Explanation
Correct Option
bVideo Explanation
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Tim234D
1 year ago
Greetings, The Myschool Team.
The correct answer is B(commercial banks), and not D (cooperative societies). Most cooperatives, especially those in West Africa do not typically give long term loans due to the maturity period of such loans and their lending structure. Microfinance banks similarly rarely give out long term loans. However, commercial banks are best suited to this kind of lending. Thus, the correct answer is B(commercial banks) and not D(cooperative societies). Thank you.
