MASC Lending Programs and Loan Guarantees
MN, Canada
Loans for Manitoba agricultural producers
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Manitoba Agricultural Services Corporation (MASC)
- Government of Manitoba
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get favourable terms and rates on loans for your business and/or production operation.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$60,000
Environmental enhancement project for a farm
$55,000
Purchase and installation of solar panels for a dairy farm
$100,000
Purchase of land to expand vegetable production
$45,000
Purchasing breeding livestock for a livestock farm
$85,000
Renovation and expansion of the main barn for an organic farm
$40,000
Refinancing existing debts for a maple syrup production company
grant_single_labels|admissibility
Eligibility criteria for this grant:
- Must be a Manitoba agricultural producer
- Applicants must meet specific requirements for each type of loan or guarantee
grant_eligibility_criteria|who_can_apply
There are eligible types of companies for this grant. Agricultural producers in Manitoba are eligible for direct loans and loan guarantees to support their operations, including purchasing land, equipment, livestock, and more.
- Agricultural producers in Manitoba
grant_eligibility_criteria|who_cannot_apply
Based on the grant context provided, there are no specific types of companies mentioned that are not eligible for this grant.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include purchasing land and buildings, equipment, breeding livestock, quota for supply-managed commodities, construction or renovation of farm buildings, consolidation and refinancing of debts, as well as expenses related to Alternate Energy, Comprehensive Refinancing, and Environmental Enhancement.
- Purchasing land and buildings
- Equipment expenses
- Breeding livestock costs
- Quota for supply-managed commodities
- Construction or renovation of farm buildings
- Debt consolidation and refinancing
- Alternate Energy expenses
- Comprehensive Refinancing costs
- Environmental Enhancement expenditures
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The evaluation is based on the following criteria:
- Financial viability of the proposed project
- Economic impact on rural Manitoba
- Experience and qualifications of the applicant
- Collateral offered for the loan
- Environmental sustainability of the project
grant_single_labels|register
- Step 1: Determine the purpose of the loan
- Step 2: Gather required documentation and information such as financial statements, business plans, and loan proposals
- Step 3: Contact MASC or a participating financial institution to discuss eligibility and loan options
- Step 4: Complete and submit the loan application form
- Step 5: Await the decision on the loan application
- Step 6: If approved, review and sign the loan agreement
- Step 7: Comply with any additional requirements or conditions set forth in the loan agreement
Apply to this program
Lending Overview
MASC's lending programs provide Manitoba's agricultural producers with reasonable access to credit. They offer direct loans and guarantee loans made by private-sector financial institutions to assist in the creation and expansion of operations in rural Manitoba.
Manitoba Agricultural Services Corporation (MASC) Lending Programs
Manitoba Agricultural Services Corporation (MASC) plays a crucial role in supporting the agricultural sector in Manitoba by providing various lending programs tailored to meet the financial needs of agricultural producers in the province. MASC offers direct loans with competitive interest rates for short, intermediate, and long-term financing to eligible Manitoba farmers.
The Direct Loans provided by MASC are versatile, allowing producers to use the funds for purchasing land, buildings, equipment, breeding livestock, and quota for supply-managed commodities. Additionally, farmers can utilize the loans for constructing or renovating farm structures, including farm homes, consolidating and refinancing debts, as well as accessing specialized loans such as Alternate Energy Loans, Comprehensive Refinancing Loans, and Environmental Enhancement Loans.
One of the notable initiatives under MASC's lending programs is the Bridging Generations Initiative, which aims to support young farmers under the age of 40 in the inter-generational transfer of assets. Through this initiative, MASC offers flexible financing options and Young Farmer Rebates (YFR) to facilitate the transition of farm assets to the next generation of agricultural producers.
For producers seeking short-term financing for purchasing feeder cattle and lambs or obtaining a cash advance on their retained feeder animals, MASC provides Stocker Loans with competitive interest terms. These loans enable producers to access up to a specified amount of funds with favorable interest rates tailored to their specific livestock requirements.
Furthermore, MASC's commitment to mitigating financial risks for agricultural loans is evident through their Loan Guarantee programs. By guaranteeing various types of loans made by participating financial institutions, MASC offers added security to agricultural loans that may be considered higher risk. The Diversification Loan Guarantees, Operating Credit Guarantees for Agriculture, and Manitoba Livestock Associations Loan Guarantees are among the key guarantee programs available to support the financial needs of Manitoba farmers.
In conclusion, MASC's lending programs underline the organization's dedication to fostering the growth and sustainability of Manitoba's agricultural industry by providing accessible and flexible financing solutions to agricultural producers across the province.
