Credit Lines: FCC Credit Line
no fixed amount
Loan
Description:
The FCC credit line provides funds to Canadian agriculture businesses to bridge the cash flow gap. It is a revolving, pre-approved loan that provides money for working capital.
Comments on Funding:
The applicant will pay interest and other fees, if applicable.
Loan terms and conditions:
– pre-approved, revolving loan;
– open variable rate;
– interest-only payments;
– no down payment required on his purchases.
Continuous Intake
Eligibility:
Applicants must be Canadian agriculture businesses.
Application Steps:
Applicants must contact a FCC representative for details.
Documentation Needed:
Applicants must:
1. generate a net worth statement,
2. collect past three years of tax returns or accountant-prepared financial statements,
3. gather recent pay stubs or written employer verification for off-farm income (if applicable),
4. bring government-issued photo ID (drivers license, passport),
5. collect shareholder agreements (if any),
6. assemble copies of existing operating loan agreements (if applicable),
7. build a business and marketing plan,
8. prepare and maintain a cash flow budget.
Other Things to Note:
Previously both the FCC Credit Line and The FCC Advancer Loan were under the same entry.
About the author
Maurice