Bridging Generations Initiative (BGI): Young Farmer Rebate (YFR)
$30,000.00
Rebtate
Description:
The Young Farmer Rebate (YFR) assists young and beginning farmers to develop or expand their farming operations. As an eligible young farmer, the YFR gives you an annual rebate of up to 2% on the first $300,000 of your total loan principal, and is available in each year of a loan’s first five years.
Comments on Funding:
As an eligible young farmer, the YFR gives you an annual rebate of up to 2% on the first $300,000 of your total loan principal, and is available in each year of a loan’s first five years.
The lifetime maximum rebate per individual is $30,000, so any unused YFR portion can be applied to subsequent loans (on the first $300,000 borrowed).
Continuous Intake
Eligibility:
Applicants must:
1. be young farmers aged 18 to 39;
2. be Manitoba residents;
3. personally operate the farm to which the loan applies.
Application Steps:
Applicants must contact MASC through their service centers.
Find a Service Centre:
https://www.masc.mb.ca/masc.nsf/contact.html
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
Partnerships, corporations and cooperatives are eligible for a YFR, where at least one partner or shareholder would be eligible if they applied as an individual for a loan. The maximum rebate to a partnership, corporation or cooperative is the same as for an individual borrower.
About the author
Maurice
