Mon | May 18, 2026

Growth & Jobs | Farmer extends legacy with $5m loan - Through Red Stripe and JN Small Business Loans partnership

Published:Monday | June 11, 2018 | 12:00 AM
Pause
Red Stripe Managing Director, Ricardo Nuncio (left), greets Project Grow farmer, Antonio Porter at the Memorandum of Understanding Signing Ceremony between Red Stripe and JNSBL held at the brewing giant’s headquarters. Porter is the first beneficiary of the financing programme and is now able to pursue cassava production in collaboration with Red Stripe. An additional 13 farmers have applied and are currently being processed. Project Grow is Red Stripe's local raw material sourcing initiative that has funded 92 farmers through the provision of farmers kits containing plant material, irrigation equipment and fertilizer for the first year, and ongoing training activities to ensure best practice and highest quality.
Project Grow farmer, Antonio Porter (left), chats with Red Stripe Farm Manager Eistein McLean at the Memorandum of Understanding Signing Ceremony between Red Stripe and JNSBL. Porter, a farmer hailing from the bread basket parish, is the first beneficiary of this partnership. Farming since 1971, Porter will venture into cassava production for the first time.
1
2

For 69-year-old Antonio Porter, farming is a legacy, a way of life he inherited from his father and one that he will be able to pass on to his children, thanks to a new partnership between Red Stripe and Jamaica National Small Business Loans (JNSBL).

With the approval of a specialised loan of $5 million, Porter became the first beneficiary of preferential loans made possible under the agreement.

The eldest of eight siblings, Porter was born and raised in the district of Hillside, St Thomas, and realised at an early age that farming was his calling. After completing his education at Morant Bay High School, he pursued specialised training in dairy technology. Paired with his farming passion, Porter used the skills learned to kick-start his own dairy farm which today covers 40 acres.

With ambitions to expand his business, Porter was elated to learn of the initiative between the beer company and JNSBL, which caters to farmers who cultivate cassava. Red Stripe uses the starch from cassava as an ingredient in its beer. Though new to cassava farming, Porter is optimistic that this venture will reap success.

"I am very hopeful of the prospects. Cassava is a low-maintenance crop in a reliable market, so I am confident business will be great," shared Porter.

As he grooms his son, Oniel Jones, to take over the business, Porter shared the importance of the loan to his family.

 

'Preserving my family's legacy'

 

"Red Stripe has provided an avenue for farmers across the island to unearth their skills and create their own stream of income. Through this loan, I will be able to preserve my family's legacy, and that means a lot to us as farming is our means of livelihood through which we enjoy financial independence."

Project Grow one of our most fulfilling ventures - Nuncio

Under the Climate Smart Loan, St Thomas farmer Antonio Porter is the first of 13 Red Stripe Project Grow farmers who will benefit from the specialised loan, which allows access to up to J$5 million with a repayment window of up to 48 months.

The interest rate is four per cent. Geared at mitigating the effects of climate change, this loan will allow farmers to equip themselves with irrigation tools and climate-resisting fertiliser, which will facilitate the farming of higher quality cassava plants.

Project Grow has also received funding from the Inter-American Development Bank's (IDB) Multi-Lateral Investment Fund (MIF) to strengthen the cassava value chain, primarily by providing technical training and support to Red Stripe contracted farmers.

"The Project Grow initiative is one of our most engaging and fulfilling ventures, providing farmers with a great opportunity to expand their business, as well as gives others a chance to harness their skills and earn a living to support their families. We are very proud of this and look forward to its contribution to the development of Jamaica's agriculture sector," said Red Stripe Managing Director Ricardo Nuncio.

Adding to this suite of specialised loan offerings is the Agriculture Loan Special. Through this package, Project Grow farmers can borrow up to $15 million at a rate of 9.5 per cent with the possibility of up to 80 per cent loan guarantee at a fee of 1-2 per cent plus GCT per year for the principal amount outstanding each year.

"By supporting Red Stripe's Project Grow initiative, we are able to give farmers the help they need to fuel their agricultural dreams. This also fits squarely with JNSBL's commitment to national development," said Gillian Hyde, JNSBL's general manager.

Heir to the family business, 35-year-old Oniel Jones shared his gratitude and excitement at the opportunity to continue his father's legacy.

"This loan is a real blessing to my family and I, especially, because my dad has been grooming me to take over the farm. I am very excited for this opportunity, and I look forward to the day I can pass along the honour to my children," he said.