Farm Equipment Financing
Canada
Financing for agricultural equipment
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateNovember 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Farm Credit Canada (FCC)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Finance or lease new or used farm equipment purchases through hundreds of dealerships or via a private sale across Canada.
grant_single_labels|projects
Activities eligible for this grant involve financing the purchase of new or used farm equipment through a participating dealer with agriculture experts.
- Buying new farm equipment
- Buying used farm equipment
- Financing farm machinery
- Working with agriculture specialists at dealerships
grant_single|admissibleProjectsExample
$ 32,000
Acquiring a new versatile tillage tool for soil preparation in our vegetable farm
$ 40,000
Financing a used John Deere 5083E tractor for small-scale organic farming
$ 72,000
Leasing a new Case IH Puma tractor to support our dairy farm operations
$ 250,000
Purchasing a new John Deere 8R tractor to enhance crop production efficiency
$ 20,000
Buying a used Kubota RTV-X900 utility vehicle for better farm transport solutions
$ 120,000
Financing the purchase of a used Massey Ferguson combine harvester for better grain harvesting
grant_single_labels|admissibility
Eligibility for the Dealer Financing Program is based on certain conditions related to the equipment purchase and financing process.
- The equipment must be purchased through a participating dealer.
- The applicant must qualify for approved credit.
- The financing applies to both new and used farm equipment.
grant_eligibility_criteria|who_can_apply
This grant is specifically designed for agricultural businesses that are looking to finance new or used farm equipment through a participating dealership. Eligible companies include those that operate within the agriculture industry and require financing to purchase farm equipment.
- Agricultural businesses
- Farm operators
- Companies involved in farming activities
grant_eligibility_criteria|eligible_expenses
This financing program supports the acquisition of new or used farm equipment through participating dealerships, providing options for flexible financing terms designed for agricultural operations.
- Purchasing new or used farm equipment through a participating dealer with financing options.
grant_eligibility_criteria|zone
The eligible geographic zones for this grant include various regions. Here are the specific areas where companies can apply:
- Dealer locations
- Rural areas
- Agricultural zones
- Private sales locations
grant_single_labels|register
Here are the steps to submit an application for dealer financing through the Dealer Financing Program:
- Step 1: Contact a Participating Dealer
- Find and contact a local participating dealership with the required farm equipment.
- Discuss the financing options available and relevant conditions with the dealer.
- Step 2: Application at Dealership
- Work with the dealership’s agriculture experts to complete the financing application.
- Provide the necessary documents as requested by the dealership for the application.
- Step 3: Approval Process
- Wait for the approval of credit and financing terms from the dealership.
- Review the terms and conditions of the finance agreement once approved.
- Step 4: Finalize Financing
- Sign the financing agreement at the dealership.
- Complete the purchase of the equipment under the finalized terms.
- Step 5: Receive Confirmation
- Receive confirmation of financing and equipment purchase from the dealership.
- Ensure all documentation is retained for your records.
grant_single_labels|otherInfo
Below are some key points worth considering regarding the FCC Equipment Financing program:
- Equipment financing is available for both new and used equipment purchases.
- Zero down payment is required for loans less than $100,000.
- There are no prepayment penalties for paying off the loan early.
- The program offers flexible financing terms up to 10 years.
- Loan insurance is recommended as part of the financing package to protect personal assets.
- Financing is contingent upon approved credit assessments.
- It's possible to apply directly at participating dealerships, facilitating a swift financing process.
- The program ensures a fast turnaround time with minimal paperwork.
