Young Farmers Loan – Farm Credit Canada

ByMaurice April 21, 2023April 21, 2023

Amount:

$1,000,000

Type of Program:

Loan

Description:

Farm Credit Canada provides loans to young producers under 40 to purchase farm or agriculture-related assets of up to $1,500,000.

Comments on Funding:

Loan terms and conditions:

no loan processing fees;
preferential rates available.

Young Farmer Loan terms and conditions:

funding is up to $1,500,000;
no loan processing fees;
preferential variable and five year fixed rates available.)

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must

be qualified producer under 40 to apply for the Young Farmer Loan,
put together a sound plan to purchase a farm or agriculture-related assets of up to $1,500,000.

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, if applicable
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.

Program Contact:

Young Farmers Website

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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