CIBC Farm Operating Loan

• The applicant must be a farm business seeking financing to manage day-to-day farm operating expenses.
• The financing must be used for eligible operating costs such as feeder livestock, seed, fertilizer, feed, repairs and maintenance, rent, and other living costs.
• The applicant must apply through CIBC (e.g., by speaking with a CIBC business advisor or visiting a CIBC Banking Centre).

Who is eligible?

• Farm businesses (agriculture)

Eligible expenses

• Purchase of feeder livestock.
• Seed, fertilizer, and feed.
• Repairs and maintenance costs.
• Rent.
• Other day-to-day living costs.

• The loan works like an overdraft linked to a CIBC Business Account, with borrowing and repayments reflected on a single monthly account statement.
• You only borrow what you need at any given time, and the outstanding balance may fluctuate with the farm business cycle.
• Interest is calculated daily on the end-of-day outstanding balance and charged monthly, based on a spread over the bank’s prime rate (which can change with market conditions).
• CIBC Farm Credit Life Insurance is available as an optional protection feature.