Bridging Generations Initiative (BGI): Young Farmer Rebate (YFR)
A cornerstone initiative for young farmers in Manitoba, the Young Farmer Rebate helps young and beginning farmers establish, manage, and expand their farming operations.
The Young Farmer Rebate gives eligible young farmers an annual rebate of up to two per cent on the first $425,000 of the total loan principal, each year in the loan’s first five years, with a lifetime maximum rebate limit of $42,500.
Offered by Manitoba Agricultural Services Corporation (MASC)
Amount
Up to $42,500
Annual rebate of up to two per cent on the first $425,000 of the total loan principal, each year in the loan's first five years, with a lifetime maximum rebate limit of $42,500 (rate 1.00%-2.00% set by MASC's five-year fixed interest rate at loan commencement)
Quick eligibility check
Who can apply
To qualify for the Young Farmer Rebate, you must be 18-39 years of age, a Manitoba resident, and personally operate the farm to which the loan applies.
Partnerships, corporations, and cooperatives are eligible for the Young Farmer Rebate, if at least one partner or shareholder is deemed eligible if they were to apply as an individual. The maximum rebate to a partnership, corporation, or cooperative is the same as for an individual borrower.
The Young Farmer Rebate applies on MASC loans to qualified individuals, joint farm units, corporations, cooperatives and partnerships with amortization terms of five years or more.
About the funding
The Young Farmer Rebate gives eligible young farmers an annual rebate of up to two per cent on the first $425,000 of the total loan principal, each year in the loan’s first five years, with a lifetime maximum rebate limit of $42,500.
Young Farmer Rebate Rates
The rate for a Young Farmer Rebate is determined by MASC’s five-year fixed interest rate at the time of loan commencement, as shown in the table below:
Five-Year Rate: ≤ 4%; Young Farmer Rebate Rate: 1.00%
Show all funding details
Five-Year Rate: > 4% to 5%; Young Farmer Rebate Rate: 1.25%
Five-Year Rate: > 5% to 6%; Young Farmer Rebate Rate: 1.50%
Five-Year Rate: > 6% to 7%; Young Farmer Rebate Rate: 1.75%
Five-Year Rate: > 7%; Young Farmer Rebate Rate: 2.00%
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Bridging Generations Initiative (BGI): Flexible Financing | Loan, Rebate | Agricultural loans for young farmers (18 to 39) with either 90 per cent financing or 5 years of interest-only payments | Open |
| Manitoba Works Capital Incentive | Rebate | No fixed amount | Open |
| Export Support Programming: Incoming Buyer Program | Rebate | Up to $5,000 | Open |
| Canadian Roundtable for Sustainable Beef (CRSB) | Rebate | Up to $4,000 | Open |
