Several tools can help you evaluate your financial situation and thus fulfill your dream of becoming a FARMER.
When you start looking for a farm or farming business, it is to your advantage to know your borrowing capacity. Thus, you will know which kind of farming business you are looking for. A good way to do this is to complete a business plan and discuss with your banker before you even find the farm of your dreams. Thus, you will look for a farm to the extent of your means.
Loan Insurance at the Provincial Level – FADQ
Help at the provincial level! Agricultural finance in Quebec may provide guarantees to banks, cashiers and / or vendors with a balance of selling prices. This essentially guarantees the lender in case of non-payment.
Mortgage loan insurance applies to various types of agricultural production.
Federal level support – FCC
Unlike the FADQ, which provides loan certificates for lending institutions, Financing Agricole Canada acts as a direct lender for your agricultural projects. With a good business plan in hand, their dynamic team will be able to give you accurate information on your projects, at a very advantageous rate.
FAC also offers its own “SELLER-BUYER” guarantee formula to guarantee the sale price balances granted by the sellers.
Several subsidy programs exist to help agricultural producers.