Farm Credit Canada (FCC) – Credit Lines: FCC Advancer Loan

Description:

The FCC Advancer Loan is a pre-approved, secured loan that continually re-advances funds as their clients (Canadian agriculture businesses) grow their operations.

Comments on Funding:

The applicant will pay interest and other fees, if applicable. Loan terms and conditions:

  • pre-approved, secured loan;
  • ability to continually re-advance funds;
  • open variable rate;
  • interest-only payments required with principal payments at your discretion;
  • ability to convert in whole, or in part, to a term loan with a fixed repayment schedule.

Eligibility:


Applicants must:

  • Applicants must be Canadian agriculture businesses.

Applications Steps:

Documentation Needed:

Applicants must:

  1. generate a net worth statement,
  2. collect past three years of tax returns or accountant-prepared financial statements,
  3. gather recent pay stubs or written employer verification for off-farm income (if applicable),
  4. bring government-issued photo ID (drivers license, passport),
  5. collect shareholder agreements (if any),
  6. assemble copies of existing operating loan agreements (if applicable),
  7. build a business and marketing plan,
  8. prepare and maintain a cash flow budget.

Other Things to Note:

Previously both the FCC Credit Line and The FCC Advancer Loan were under the same entry.

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