Young Farmers
Canada
Loans for farmers under 40 years old
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
grant_single|grantors
- Farm Credit Canada (FCC)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get customized financing of up to $150,000 for your agriculture, agribusiness or food and beverage-related business with the Starter Loan, and up to $1.5 million with the Young Farmer Loan. Attend free events and webinars to sharpen your farm management p
grant_single_labels|projects
This grant is designed to help young farmers under 40 establish or expand their agricultural operations through targeted financial assistance. The eligible activities focus on acquiring agriculture-related assets and building credit history.
- Purchase of agricultural-related assets.
- Expansion of existing farm operations.
- Establishment of new agricultural ventures.
grant_single|admissibleProjectsExample
$380,000
Establishing a greenhouse for year-round vegetable cultivation
$150,000
Implementing advanced irrigation systems for a sustainable vegetable farm
$250,000
Upgrading wine production facilities with new fermentation tanks
$220,000
Building a new poultry barn with modern equipment
$300,000
Expanding organic dairy production with new milking equipment
$200,000
Developing an agritourism initiative with an educational farm
grant_single_labels|admissibility
Eligibility for the FCC Young Farmer Loan is determined by specific requirements related to the applicant's profile and proposed activities.
- The applicant must be a qualified producer under 40 years old.
grant_eligibility_criteria|who_can_apply
The grant mentioned is specifically designed for young farmers who are under 40 years old. Qualified producers under this age limit can apply for the Young Farmer Loan to support their agriculture career.
grant_eligibility_criteria|eligible_expenses
The Young Farmer Loan allows young producers to purchase agriculture-related assets.
- Purchase of agriculture-related assets up to $2,000,000.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The Young Farmer Loan has specific criteria for eligibility and approval:
- Qualified producer under 40 years old
- No loan processing fees
- Preferential variable and five year fixed rates available
- Purchase agriculture related assets for up to 18 months
- Sound plan required for approval
grant_single_labels|register
- Step 1: Assess Eligibility
- Confirm that you are a qualified producer under 40 years old.
- Step 2: Contact FCC
- Call FCC at 1-888-332-3301 to learn more about the Young Farmer Loan.
- Find your local FCC office to discuss your needs.
- Talk to an FCC Business Advisor for one-on-one advice.
- Step 3: Prepare Business Plan
- Utilize FCC’s tools and templates to develop a business plan.
- Consider using the business plan bundle provided by FCC for success.
- Step 4: Application Preparation
- Gather necessary financial documents and plan your credit needs.
- Use the calculators and financial ratios tools to assist your planning.
- Step 5: Submit Application
- Submit your application through guidance received from FCC advisors.
- Ensure all documentation is complete and accurate before submission.
- Step 6: Confirmation and Follow-Up
- Receive confirmation from FCC once your application is received.
- Follow-up with FCC for any additional requirements or information needed.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Young Farmer Loan provides an AgExpert Bundle which includes AgExpert Accounting Premium and AgExpert Field Premium for one year, valued at $499.
- Access to FCC events tailored for farmers under 40 is available as part of the financing package.
- A collection of financial and business planning tools, including a cost of living calculator, loan vs lease calculators, and cash flow planning guides, are provided to assist applicants.
- Opportunities to seek advice and support from FCC Business Advisors for one-on-one transition strategies are available to applicants.
Apply to this program
Nurture Your Agriculture Future with the Young Farmer Loan
The Young Farmer Loan is designed to support qualified producers under 40 in advancing their agricultural careers by purchasing assets and expanding their business capabilities. The program offers favorable interest rates and valuable tools to help young farmers build a solid foundation for their ventures.
In-Depth Information on the Young Farmer Loan Benefits and Features
The Young Farmer Loan is a compelling financial instrument provided by the FCC, specifically tailored to support the emerging generation of farmers in Canada. Aimed at empowering young farmers under the age of 40, this loan facilitates the purchase of farms or agricultural-related assets, enabling recipients to establish or expand their agricultural operations. With a limit of up to $2,000,000, this loan offers substantial financial support, making it accessible even for those with limited credit history, provided they have a robust business plan in place.
One of the notable features of the Young Farmer Loan is the absence of loan processing fees, a significant advantage that makes this financial product particularly appealing to young entrepreneurs who are mindful of initial costs. Moreover, the provision of preferential rates, both variable and fixed over five years, allows young farmers to focus on business growth rather than fluctuating financial commitments. These flexible financial terms are crucial for young farmers who need to channel their resources towards operational expenses and investments rather than purely financial services costs.
Additionally, the loan is supplemented by access to a suite of essential tools and services offered by FCC. Beneficiaries of the loan receive the AgExpert Bundle, which includes the AgExpert Accounting Premium and AgExpert Field Premium for one year. This $499 value not only enhances the financial management capabilities of young farmers but also equips them with advanced tools for field and crop management, thereby boosting productivity and efficiency.
Comprehensive support extends beyond just financial assistance. Young Farmer Loan recipients are invited to engage in a range of educational and networking events tailored for farmers under 40. These events provide invaluable opportunities for young producers to learn from industry experts, share experiences with peers, and adopt innovative farming practices. This community engagement is an essential part of the program, as it ensures that young farmers can build networks and alliances that are crucial for long-term success in agriculture.
FCC further provides additional resources like a cost of living calculator, loan versus lease calculators, financial ratio templates, and guides for cash flow planning, which are highly beneficial for strategic business planning. Moreover, engaging directly with FCC business advisors offers young farmers personalized, one-on-one advice. This guidance from skilled professionals helps young farmers navigate the complexities of transitioning into or expanding within the agriculture sector, thus solidifying their operational and financial strategies.
The Young Farmer Loan by FCC is not just a financial product; it is a holistic initiative aimed at fostering the growth and development of young farmers across Canada. It empowers them to transform their agricultural dreams into reality by providing not only financial support but also the knowledge and tools needed for sustained success. By strategically targeting the younger demographic, the loan contributes significantly to ensuring a resilient and vibrant future for the agriculture industry, while concurrently building a new generation of capable and innovative agricultural leaders.
