Land & Buildings
no fixed amount
Loan
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
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
Maurice