Loan Products
The following summary of loan products for each institution is a summary of their agriculture specific loan products. This information was found on their company website. For more details on an institution’s loan products, see the accompanying link under each summary table.
In addition to the following financial institutions’ loan products; there are also other programs and debt products specific to cattle producers.
Select bank to view products:
Laurentian Bank of Canada Products:
Farm Improvement and Marketing Co-operatives Loans Act (FIMCLA)
| Description |
Term |
Interest Rate |
| Farming assets that qualify under this government program include implements, buildings, additional land, breeding livestock, repairs to buildings and equipment, land improvements, and debt consolidation. |
15 years for land,
10 years for other purchases. |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| Generally made monthly but can be extended to yearly. |
Max $250,000 |
Government administration fees. |
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Financier agricole du Quebec (FADQ)
| Description |
Term |
Interest Rate |
| Acquisition of expansion projects |
Max of 30 years |
Variable |
| Payment Frequency |
Available Loan Amount |
Notes |
| Varies |
Max $5 Million |
For business in which farmers hold at least 60% interest |
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Term Loan
| Description |
Term |
Interest Rate |
| Expansion projects, equipment or refinance existing debt |
Generally 1 – 5 years
Max 7 years, but must not exceed useful like of the asset |
Fixed or variable rates |
| Payment Frequency |
Available Loan Amount |
Notes |
| Generally monthly, which may include principle and interest separately or both |
Customizable |
|
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