Farm Transfers – Farm Credit Canada (2022)

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. 

Eligibility:

  • Applicants must be Canadian young farmers or agriculture businesses.

Applications Steps:

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.

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