RBC La Financière Agricole du Quebec (FADQ) Loan
$ 5,000,000.00
Loan
Description:
The Royal Bank of Canada supports the agricultural industry and farmers of Quebec by providing the financial support through secured loans guaranteed by La Financière Agricole du Québec (FADQ).
Comments on Funding:
Funding takes the form of loans of:
– up to $5,000,000 for Agricultural loans;
– up to $750,000 for Forestry loans.
– a minimum interest rate discount of 0.30% to 0.60% off the interest rate for the entire term of the loan is given.
Rolling deadline
Eligibility:
1. Be located in the province of Quebec
2. Demonstrate long-term viability of their enterprise
3. Have property that is at least 60% owned by agricultural practitioners
4. Abide by the environmental standards set forth in the Environment Quality Act (R.S.Q., chapter Q-2) and the Agricultural Operations Regulation, including the requirements involving the phosphorus report and the operating rights
Application Steps:
Applicants must call RBC’s 24/7 Business Helpline at 1-877-683-1093.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
La Financière Agricole du Quebec Loan is Commonly Used For:
1. Young producers looking to establish themselves on an existing farm, or are starting a new business
2. Farm business projects that aim to improve land, diversify production or start a greenhouse operation
3 .Agricultural businesses looking to expand operations or invest in the future of the business
About the author
Maurice
