grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|maxCount
grant_single|deadlines
  • grant_single|openingDateNovember 14, 2019
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
  • Accommodation and food services
grant_single|grantors
  • Government of Canada
  • Farm Credit Canada (FCC)
grant_single|status
grant_card_status|open

grant_single_labels|preview

Access up to $1,5 million in loans for your agricultural or food-related business, if you are under 40 years old.

grant_single_labels|projects

- Purchasing agriculture or food-related assets - Improving agricultural or food-related businesses - Buying shares in agricultural or food-related businesses
grant_single|admissibleProjectsExample

$150,000

Ottawa
Improvement of a community garden and vegetable market

$800,000

Vancouver
Expansion of organic dairy farm to include cheese production facility

$150,000

Kelowna
Purchase of advanced irrigation systems for fruit orchard expansion

$750,000

Halifax
Improvement of processing facilities for a seafood company

$1,400,000

Toronto
Acquisition of an organic food store chain

$250,000

Montreal
Purchase of new hydroponic systems for urban farming business

grant_single_labels|admissibility

Eligibility for this loan requires meeting certain criteria related to the applicant's age and business activities.
  • The applicant must be under the age of 40.
  • The business must be agriculture or food-related.
  • The loan must be used to purchase shares in, buy, or improve an agricultural or food-related business.

grant_eligibility_criteria|who_can_apply

The Young Entrepreneur Loan is specifically designed for individuals under the age of 40 looking to start or expand an agricultural or food-related business. This opportunity is ideal for young entrepreneurs who have developed a solid business plan but require financial backing to initiate or enhance their business operations. The loan supports the purchase of shares, acquisition, or improvement of businesses within the agriculture or food sectors.

grant_eligibility_criteria|eligible_expenses

This loan program allows young entrepreneurs to finance the start or expansion of their agricultural or food-related businesses. Eligible activities involve the acquisition or enhancement of business assets in these sectors.
  • Purchase of shares in agricultural or food-related businesses.
  • Buying agricultural or food-related assets to enhance business operations.
  • Improving existing agricultural or food-related business facilities or infrastructure.

grant_eligibility_criteria|zone

Eligible expenses for the Young Entrepreneur Loan include costs directly associated with the acquisition and improvement of agricultural or food-related assets.
  • Purchase of agriculture-related assets.
  • Purchase of food-related assets.
  • Improvement of agricultural business assets.
  • Improvement of food-related business assets.

grant_single_labels|criteria

There are evaluation and selection criteria for this grant:
  • Borrower's age must be under 40
  • Submission of a good business plan
  • Business must be agriculture or food-related
  • Ability to establish or expand the business
  • Preference for purchases of agriculture assets

grant_single_labels|register

  • Step 1: Contact Local Office (initial engagement)
    • Reach out to your nearest FCC office to express your interest in the Young Entrepreneur Loan.
    • Discuss your business idea with an FCC representative to understand the loan conditions and obtain guidance on the application process.
  • Step 2: Develop Business Plan (documentation preparation)
    • Create a comprehensive business plan detailing your business idea, market analysis, business structure, and financial projections.
    • Ensure the plan highlights how the loan will assist in purchasing, buying shares in, or improving an agricultural or food-related business.
  • Step 3: Gather Required Documentation (information gathering)
    • Collect all necessary documents that support your application, such as financial statements, credit history, and personal identification.
    • Include any additional documents suggested by the FCC representative.
  • Step 4: Complete Application Form (formal application)
    • Fill in the loan application form obtained from the FCC office or their online platform.
    • Verify all information is accurate and aligns with the documents provided.
  • Step 5: Submit Application (submission process)
    • Submit the completed application form along with the business plan and all supporting documents to the designated FCC office or via their online submission portal.
    • Ensure all components of the application are included before submission to avoid delays.
  • Step 6: Application Review and Follow-Up (post-submission)
    • Wait for FCC to conduct a review of your application and business plan.
    • Respond promptly to any requests for additional information or clarification.

grant_single_labels|otherInfo

Here are additional relevant details for the Young Entrepreneur Loan:
  • The loan amount can go up to $2,000,000, allowing significant financial input into the business.
  • There are no loan processing fees, reducing initial costs for the borrower.
  • Borrowers can take up to 18 months to make purchases with the loan, offering flexibility in financial planning.
  • The offer includes an AgExpert Bundle subscription for one year, valued at $499, enhancing business management capabilities.
  • Low interest rates are provided, facilitating a focus on business growth rather than high finance costs.
  • The loan also aids in building credit history with FCC, which may be beneficial for future financial needs.

grant_single_labels|documents

Young Entrepreneur Loan

Apply to this program