Maurice
Posted: January 20, 2022

Amount:

No Fixed Amount

Type of Program:

Loan


Description:

FCC offers financing to farmers to build or expand their operation or transfer farm assets to the next generation.

Comments on Funding:

Loans terms and conditions:

  • disbursements are made to the seller over time, up to five years, and interest is charged only on the disbursed amount;
  • FCC will finance the down payment for a maximum of seven years for qualifying purchasers;
  • interest-only payments or principal-plus-interest payments options. 

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

  • Applicants must be Canadian young farmers or agriculture businesses.

Applications Steps:

1

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.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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