How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Farm Transfer Transition Loans?

Farm Transfer Transition Loans is funded by Farm Credit Canada (FCC), Government of Canada

What are Farm Transfer Transition Loans's eligibility criterias?

Must be seeking to transfer farm assets or be a young farmer looking to build a farm.

Farm Transfer Transition Loans

grant_single|update January 24, 2025

Canada

Farm transfer loan

grant_single_labels|menu_summary

grant_single_labels|menu_preview

grant_single_labels|menu_terms_and_conditions

grant_single_labels|menu_projects

grant_single_labels|menu_admissibility

grant_single_labels|menu_apply

grant_single_labels|menu_otherInfo

grant_single_labels|menu_documents

grant_single_labels_website|summary

grant_single|eligibleFinancing

grant_single|noCondition

grant_single|deadlines

grant_single|openingDate November 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_website|preview

Access loans to help the transition of a farm from seller to buyer, including intergenerational farm transfers, or if you are a young farmer looking to build your own farm.

grant_single_labels_website|terms_and_conditions

The Farm Transfer Transition Loan program provides a variety of flexible financing options, enabling smoother transitions and financial planning for both buyers and sellers. The modalities are designed to support cash flow and build equity efficiently.

Disbursements are made to the seller over time, up to five years, ensuring payments are aligned with cash flow management.
Interest is charged only on the disbursed amount, making it a cost-effective solution for transitional financing.
Buyers can opt for interest-only payments or principal-plus-interest payments, allowing greater flexibility in payment structures.
FCC finances the down payment for a maximum of seven years, eliminating the immediate capital requirement for purchasers.
The program includes an AgExpert Bundle, providing one year of AgExpert Accounting Premium and AgExpert Field Premium, valued at $499.
The seller benefits from a Payment Schedule Guarantee by FCC, ensuring full payment of sale proceeds with minimal risk.
Additional features include pre-approved lines of credit and deferred payment options, enabling more adaptable financial strategies.
Extended disbursement periods and an interest-only payment option cater to diverse financial needs and timelines.

grant_single_labels_website|projects

grant_single|admissibleProjectsExample

$ 70,000

Transitioning sheep farm ownership to a young couple

$ 50,000

Improving equity and upgrading irrigation systems in a medium-sized fruit farm

$ 200,000

Acquiring land and farm assets for a young farmer's new organic vegetable farm

$ 35,000

Managing cash flow and buying necessary equipment for a start-up poultry farm

$ 150,000

Expanding a family-run dairy farm through intergenerational transition and new infrastructure

$ 60,000

Building and equipping a new greenhouse for a small-scale urban farm

grant_single_labels_website|admissibility

Eligibility for the Transition Loan involves certain criteria related to the applicant's situation and financial needs.

The applicant must be involved in farm transfers, either transferring farm assets or acquiring them as a young farmer.
The applicant should be in need of financing to manage cash flow or to build equity quickly.
The buyer must qualify for FCC to finance the down payment for a maximum of seven years.

grant_eligibility_criteria|who_can_apply

The Transition Loan is aimed at individuals involved in farm transfers, particularly aiding young farmers and those looking to transition assets in agriculture. It provides financial solutions to manage cash flow or quickly build equity during the transfer process.

grant_eligibility_criteria|eligible_expenses

This financial initiative is tailored to support farm asset transfers and aid young farmers in establishing their operations. It focuses on flexible payment methods and risk mitigation for both buyers and sellers in the farming industry.

Facilitating the transfer of farm assets to young or new farmers through structured payment plans.
Providing financial solutions like interest-only or principal-plus-interest payments to improve cash flow management.
Offering opportunities to build equity in farming operations through accessible financing options.
Ensuring complete payment to sellers over an agreed period, backed by guarantees for financial security.
Supporting tax advantage opportunities for sellers receiving payments over time.

grant_single_labels_website|apply

Contact FCC

Content: Call FCC at 1-888-332-3301 or email an FCC representative
Implications: Initiate communication with FCC to express interest in the Transition Loan

Discuss Loan Options

Content: Explore the Transition Loan features and benefits
Implications: Understand the loan terms and conditions to make an informed decision

Complete Loan Application

Content: Gather required financial information and complete the loan application
Implications: Provide necessary documents and information for FCC to assess the loan request

Await FCC Decision

Content: Wait for FCC to review the application and provide a decision
Implications: Be patient during the loan approval process

Finalize Loan Agreement

Content: Review and sign the loan agreement documents
Implications: Formalize the loan agreement with FCC to access the Transition Loan

grant_single_labels_website|otherInfo

Here are additional relevant details for this loan:

Access to AgExpert software: AgExpert Accounting Premium and AgExpert Field Premium are offered for free for one year, valued at $499.
Loan Insurance is available, ensuring protection of your most important asset.
Contact methods are diverse, including phone, email, local office visits, and various social media platforms.
There's additional educational content available through the FCC Knowledge Newsletter and Loan Essentials guidance.