Young Farmers
At a glance
- Max. $1,500,000
- Open Date : November 14, 2019
- Agriculture, forestry, fishing and hunting
- Farm Credit Canada
- Government of Canada
Overview
Eligibility criteria
Eligibility criteria for the Young Farmer Loan:
- Qualified producer under 40 years old
- Sound plan to purchase a farm or agriculture-related assets up to $2,000,000
- No loan processing fees
Who is eligible
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.
Eligible expenses
Eligible expenses for the Young Farmer Loan include purchasing agriculture-related assets for up to 18 months. Benefits also include no loan processing fees and preferential variable and five-year fixed rates.
- Purchase agriculture related assets for up to 18 months
- No loan processing fees
- Preferential variable and five-year fixed rates available
Evaluation & selection 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
How to apply
- Step 1: Contact FCC for more information and to determine eligibility
- Content: Call 1-888-332-3301 or visit their website
- Implications: Allows you to understand the requirements and benefits of the Young Farmer Loan
- Step 2: Put together a sound plan outlining your agriculture-related asset purchase
- Content: Create a detailed plan for the assets you intend to purchase
- Implications: Demonstrates your business acumen and helps in securing the loan
- Step 3: Submit your application for the Young Farmer Loan
- Content: Provide all necessary documents and information as requested by FCC
- Implications: Initiates the loan approval process
- Step 4: Review and accept the loan terms
- Content: Review the terms and conditions of the loan offer
- Implications: Commits you to the terms of the loan agreement
- Step 5: Utilize the loan to purchase agriculture-related assets
- Content: Use the funds as agreed upon to acquire assets
- Implications: Helps in growing your agricultural business
FCC Young Farmer Loan
Financing and Support for Young Farmers
The FCC Young Farmer Loan is designed to empower young producers under 40 with customized financing options to kickstart or expand their agricultural careers. With preferential rates, no loan processing fees, and the opportunity to purchase agriculture-related assets up to $2,000,000, this loan helps young farmers establish or grow their businesses while building their credit history with FCC.
Through the Young Farmer Loan, qualified producers can access financial support for up to 18 months, giving them the flexibility to invest in their farm operations. Moreover, the inclusion of the AgExpert Bundle, which includes AgExpert Accounting Premium and AgExpert Field Premium, adds further value by providing essential tools for financial management and farm planning. Young farmers can utilize these resources to enhance their business strategies and drive sustainable growth in the agricultural sector.
By offering personalized financing solutions, FCC demonstrates its commitment to supporting the next generation of farmers. Young producers can leverage the Young Farmer Loan to realize their farming ambitions, whether it's acquiring new equipment, expanding their land holdings, or optimizing their operations for greater efficiency. With access to expert guidance and valuable resources, FCC empowers young farmers to succeed in a dynamic and competitive industry, paving the way for a vibrant future in agriculture.