Livestock

By mmuise
Description:

FCC and the participating livestock suppliers across Canada provide flexible and convenient financing tailored to the needs of feeder cattle and breeding livestock producers.


Comments on Funding:

Financing is received from the participating livestock retailers or from Farm Credit Canada.
The applicant will pay interest and other fees, if applicable.

Livestock Alliance Partner financing terms and conditions:
- customized pre-approved lending limits;
- modest down payment, or pooled or non-pooled security deposit accounts (depending on applicant's livestock alliance partner);
- no prepayment penalties;
- competitive rates.

FCC financing terms and conditions:
- pre-approved lines of credit;
- deferred payments;
- interest-only payments;
- extended disbursements.

Deadline: Continuous Intake
Eligibility:

The applicant must be a feeder cattle and/or breeding livestock producers.

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 Things to Note:

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About the author
mmuise