Land & Buildings

By mmuise
Description:

FCC offers financing to producers to build or expand their operations by buying new land or constructing new buildings.


Comments on Funding:

Loans terms and conditions:
- pre-approved lines of credit;
- interest-only payments option;
- deferred payment option;
- extended disbursements;
- different interest terms, maturity dates, amortization periods and repayment schedules to choose from;
- prepay options available based on the interest term selected;
- schedule payments around growing cycles, off-farm income and during construction.O224

Deadline: Continuous Intake
Eligibility:

The applicant must be a producer.

Application Steps:

Applicants must contact a FCC representative for details (call at 1-888-332-3301 or email an FCC representative).

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 documentation might be required to prove the Indigenous status.

Other Things to Note:

FCC Credit Lines: Advancer Loan can also be used for land & Buildings. It is not a separate product/service.

About the author
mmuise