Young Entrepreneur Loan
At a glance
- Max. $1,500,000
- Open Date : November 14, 2019
- All industries
- Farm Credit Canada
- Government of Canada
Overview
Eligibility criteria
To be eligible for the Young Entrepreneur Loan, you must meet the following criteria: 1. Be under the age of 40. 2. Have a good business plan. 3. Purchase shares in, buy, or improve an agricultural or food-related business. 4. Be willing to take your business to the next level. 5. Have the ambition to establish or expand your business. 6. Must be interested in agriculture or food-related assets. 7. Must be able to repay the loan according to the terms provided. If you meet these eligibility criteria, you can apply for the Young Entrepreneur Loan to start or expand your business.
Who is eligible
- Agricultural businesses - Food-related businesses
Eligible expenses
Eligible expenses for the Young Entrepreneur Loan include:
- Purchase of agriculture or food-related assets
- Improvement of agricultural or food-related businesses
- Expansion of existing agricultural or food-related businesses
Eligible projects & activities
- Purchasing agriculture or food-related assets - Improving agricultural or food-related businesses - Buying shares in agricultural or food-related businesses
Evaluation & selection 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
Additional information
- Applicants must be under age 40 to qualify for the Young Entrepreneur Loan - The loan offers capital up to $2,000,000 for business purposes - Low interest rates are provided to help focus on business growth - Applicants can use the loan to purchase agriculture or food-related assets - AgExpert Bundle includes Accounting Premium and Field Premium for one year - Up to 18 months are allowed to make asset purchases - No loan processing fees are charged - Preferential rates may be available for eligible applicants
The FCC Young Entrepreneur Loan Grant
Understanding the FCC Young Entrepreneur Loan Grant
The FCC Young Entrepreneur Loan Grant is a valuable opportunity for aspiring young business owners under 40 to secure funding for their agricultural or food-related ventures. With benefits including capital up to $2,000,000, low interest rates, and the option to purchase assets over 18 months, this grant empowers entrepreneurs to grow their businesses and establish a strong credit history with FCC.
By accessing the Young Entrepreneur Loan, applicants can take their businesses to the next level, whether it's purchasing shares, improving existing assets, or expanding operations. With no loan processing fees and preferential rates available, this grant offers a pathway for young entrepreneurs to realize their ambitions and contribute to the agricultural and food industry.
