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:
Scotia Flex for Agriculture
| Description |
Term |
Interest Rate |
| The Scotia Flex for Agriculture banking program allows a producer to customize farm credit needs with multiple credit products under one global credit limit. |
customizable |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| customizable |
Up to 80% if current market value of real estate. |
Umbrella program that molds all available Scotiabank loan products below into one package with the potential to save money each year. |
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Scotia Farm Term Loan
| Description |
Term |
Interest Rate |
| Purchase of new and used assets including breeding stock, machinery and equipment, building repairs and renovations. |
customizable |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| customizable |
customizable |
Flexible repayment terms to accommodate or improve cash flow. |
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Scotia Farm Mortgage Loan
| Description |
Term |
Interest Rate |
| Owning farm land can be a big step towards financial security and prosperity. A mortgage loan provides flexible long-term financing for full and part-time farmers to buy farmland, make major capital improvements, or to restructure existing loans. |
customizable |
Variable or fixed. Can fix rates at any time. |
| Payment Frequency |
Available Loan Amount |
Notes |
| Payment terms can match seasonal cash flow. |
customizable |
Prepayment privileges and options. |
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Scotia Farm Operating and Credit Line
| Description |
Term |
Interest Rate |
| Gives resources to meet operating credit needs. |
customizable |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| customizable |
Limits based on security provided and operating requirements. |
|
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Farm Improvement Loan
| Description |
Term |
Interest Rate |
| Flexible term financing for machinery, equipment, buildings, land. |
customizable |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| Payment terms can match seasonal cash flow. |
customizable |
No pre-payment penalties in variable rate loans. |
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Scotia Farm Legacy Mortgage
| Description |
Term |
Interest Rate |
| Targeted for farmers transferring farm operation to next generation. |
customizable |
Variable and fixed rates available. |
| Payment Frequency |
Available Loan Amount |
Notes |
| customizable |
customizable |
- Pre-payment privilege up to 15% of original balance.
- Minimum 10% down payment.
- Interest only payments permitted up to 5 years. |
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