Credit is essential in the farm business because it facilitates the adoption of productive technologies such as irrigation. However, access to credit remains a significant hurdle for sub-Saharan Africa, including Ghanaian farmers. This study assessed credit utilization and the intensity of borrowing by irrigated rice farmers in the Upper East region. The Tono and Vea irrigation schemes were selected for this study that included 477 total farmers. The results show that gender, age, years of farming, total farm size, rice farm size, contract farming and off-farm employment explain farmers’ decision to borrow. On the other hand, the intensity of borrowing was influenced by gender, age, years of farming, rice farm size, contract farming and the number of extension contact. The moderation analysis revealed that extension contact improves the amount borrowed by farmers.