American International Journal of Social Science

Farmers’ Social Life that affect Loan Repayment: A Study of Cocoa Farmers in Ikom Local Government Area of Cross River State
Uduma, M. K.

Abstract
The social life of cocoa farmer that affect loan repayment capacity was studied. From all cocoa farmers in Ikom, 70 farmers whose farm size measured up to five hectares and who made use of loan during the 2004 farming season were purposively sampled for the study. Social factors as age, household size, level of education, farming experience and marital status as dummy variable were regressed on loan repayments. The objective was to identify those social factors that affect loan repayment and to determine the significance of these social factors on loan repayment. Age, household size and farming experience were significant while level of education and marital status were insignificant. The work recommends that age, household size and farming experience of a farmer should be considered as necessary criteria for loan disbursement.

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