Farm Transfers

By mmuise
Description:

FCC offers financing to farmers to build or expand their operation or transfer farm assets to the next generation.


Comments on Funding:

Loans terms and conditions:
- disbursements are made to the seller over time, up to five years, and interest is charged only on the disbursed amount;
- FCC will finance the down payment for a maximum of seven years for qualifying purchasers;
- interest-only payments or principal-plus-interest payments options.

Deadline: Continuous Intake
Eligibility:

Applicants must be Canadian young farmers or 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:

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About the author
mmuise