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

ByMaurice February 22, 2022September 6, 2022

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.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

Applicants must be Canadian agriculture businesses.

Applications Steps:

Applicants must contact a FCC representative for details.

Documentation Needed:

Applicants must:

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