Starter Loan

By mmuise
Description:

FCC provides financing to agriculture and food industry startups and to agriculture, agribusiness or food and beverage-related business that were established within the past three years.


Comments on Funding:

Funding is up to $150,000. Loan terms and conditions:
- special 1- to 10-year fixed rates available;
- no loan processing fees.

Deadline: Continuous Intake
Eligibility:

Eligibility criteria:

  • Applicants must be agriculture and food industry startups;
  • Applicants must be existing agriculture, agribusiness or food and beverage-related business started within the past three years.
  • Eligibility starts at 18 years of age.
  • If applicants are 25 years or older:
    a) new business or have started their business within the last 3 years;
    b) most recent revenue (individual and corporate combined) must be $50,000 or less.
Application Steps:

Applicants must call 1-888-332-3301 to learn more.

Documentation Needed:

Applicants must:
1. generate a net worth statement,
2. collect past three years of tax returns or accountant-prepared financial statements (if applicable),
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:

-

About the author
mmuise