Ginseng Storage Loan Guarantee Pilot Program (GSLGPP)
$1,000,000.00
Loan Guarantee
Description:
The Ginseng Storage Loan Guarantee Pilot Program (GSLGPP) is an industry-led pilot loan guarantee program created by the Government of Ontario. It aims to assist the province’s ginseng farmers in sustaining and growing their business.
Comments on Funding:
Funding is a loan of up to a maximum of $1,000,000. Loan terms and conditions:
1. financing is up to 36 months;
2. the rate for ginseng in storage is set by the Ontario government;
3. loan calculation is related to quantity of ginseng in storage;
4. repayment:
a) as crop is marketed, or by repayment deadline, or upon demand;
b) deadline to repay: march 31st (for the 36-month program).
Continuous Intake
Eligibility:
Applicants must be:
1. based in Ontario;
2. ginseng farmers;
3. enrolled in AgriStability and own the ginseng inventory.
Application Steps:
Applicants must call ACC for more information about the program or to process an application at 1-888-278-8807.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
