Manitoba Agricultural Services Corporation Direct Loans
$5,250,000.00
Loan
Description:
Direct Loan Program provide beginning and established farmers in Manitoba with short, intermediate and long-term financing at reasonable interest rates and flexible repayment terms. This program provides loans to eligible producers to help them finance their farming operations and improve their competitiveness in the marketplace.
Comments on Funding:
Funding takes the form of loans and interest rates for Direct Loans can be fixed for the full life (amortization) of the loan, or renewed every 1, 2, 3, 4 or 5 years. Most Direct Loans have repayment terms of up to 25 years, with monthly, quarterly, or semi-annual payment options.
Continuous Intake
Eligibility:
Applicants must:
1. be Manitoba residents who are at least 18 years of age and Canadian citizens or have lawful permanent residence status.
2. be personally operate the farm to which the loan applies.
3. farm must be considered potentially viable and meet security requirements.
Application Steps:
Applicants must contact Service Centre:
https://www.masc.mb.ca/masc.nsf/contact.html
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
MASC Direct Loans are available for:
1. purchase of agricultural land or buildings
2. purchase of new or used agricultural equipment
3. permanent improvements to land
4. purchase, construction or renovation of farm production buildings
5. purchase, construction or renovation of on-farm homes
6. purchase of breeding livestock
7. purchase of supply-managed quota (dairy and poultry)
8. debt consolidation or refinancing
9. purchasing or renovating greenhouses and nurseries
10. operating expenses
About the author
Maurice
