Young Farmers: Young Farmer Loan

By mmuise
Description:

FCC provides loans to young producers under 40 to purchase farm or agriculture-related assets of up to $1,500,000.


Comments on Funding:

Loan terms and conditions:
- no loan processing fees;
- preferential rates available.

Young Farmer Loan terms and conditions:
- funding is up to $1,500,000;
- no loan processing fees;
- preferential variable and five year fixed rates available.)

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be qualified producer under 40 to apply for the Young Farmer Loan,
  • put together a sound plan to purchase a farm or agriculture-related assets of up to $1,500,000.
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