Livestock – Farm Credit Canada

ByMaurice

Description:

FCC and the participating livestock suppliers across Canada provide flexible and convenient financing tailored to the needs of feeder cattle and breeding livestock producers.

Comments on Funding:

Financing is received from the participating livestock retailers or from Farm Credit Canada.The applicant will pay interest and other fees, if applicable.

Livestock Alliance Partner financing terms and conditions:

  • customized pre-approved lending limits;
  • modest down payment, or pooled or non-pooled security deposit accounts (depending on applicant’s livestock alliance partner);
  • no prepayment penalties;
  • competitive rates.

FCC financing terms and conditions:

  • pre-approved lines of credit;
  • deferred payments;
  • interest-only payments;
  • extended disbursements.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

  • The applicant must be a feeder cattle and/or breeding livestock producers.

Applications Steps:

1

Applicants must contact a FCC representative for details (call at 1-888-332-3301 or email an FCC representative).

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.

Testimonials:

Program Contact:

Land and Buildings

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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