Credit Lines
Highlights
This program is designed specifically for businesses like yours, offering flexible, revolving, pre-approved loans to meet your unique needs. Whether you are looking to expand, invest in new equipment, or manage day-to-day operations, this financing option provides the support you need to grow and thrive.
Key Benefits:
- Up to $1,000,000 in financing
- Additional $150,000 for software or operating costs
- Flexible repayment options tailored to your business
- Government-backed for added security
By applying for this program, you gain access to funds that can be used for a variety of purposes, including operating expenses, restorations, new equipment, and software. The approval process is straightforward, making it easier for you to qualify and start benefiting from the support. This program offers a competitive edge over traditional loans, ensuring you have the resources to succeed.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- The loan is a revolving, pre-approved loan.
- Interest rates are competitive and vary based on the market conditions.
- Flexible repayment terms are available, tailored to your business needs.
Eligible Expenses:
- Purchase of agricultural equipment.
- Investment in environmental solutions.
- Farm transfers and land acquisitions.
- Livestock purchases.
- Building and infrastructure improvements.
Use of Funds:
- Funds cannot be used for personal expenses or non-business-related activities.
Fees:
- No application fee.
- No document preparation fee.
- No renewal fee for the revolving loan.
Qualifications
- Must be an agribusiness or involved in food and beverage industries.
- Business must be operating within Canada.
- Must be involved in agriculture, including sectors like environmental solutions, equipment, farm transfers, indigenous agriculture and food, inputs, land and buildings, livestock, and sustainability initiatives.
Women entrepreneurs and young farmers are encouraged to apply.
Disqualifications:
- Businesses outside the agriculture, agribusiness, or food and beverage sectors.
Description
This program offers your business revolving, pre-approved loans. You can use these loans to finance various needs, such as buying equipment, improving your facilities, or expanding your operations.
You can borrow up to a certain limit, and the funds are available when you need them. This flexibility allows you to manage your cash flow more effectively and seize opportunities as they arise.
There are no strict conditions on how you use the money, giving you the freedom to invest in what your business needs most. The payback terms are also designed to be manageable, ensuring you can focus on growing your business without financial strain.
Program Steps
Gather Required Documentation:
- Financial statements
- Business plan
- Quotes for equipment or renovation costs
- Details of intended use of funds
Review Loan Terms and Repayment Options:
- Understand different repayment options
- Review interest rates (fixed or floating)
- Consider the amortization period
Contact FCC Representative:
- Call 1-888-332-3301
- Email an FCC representative
- Visit your local FCC office
Prepare Your Application:
- Complete the application form
- Attach all necessary documentation
Submit Your Application:
- Submit through the appropriate FCC channel
- Ensure all information is accurate and complete
Await Review and Approval:
- FCC will review your application
- Be prepared to provide additional information if requested
Discuss Final Loan Terms:
- Upon approval, discuss interest rate, repayment schedule, and fees
Receive Loan Disbursement:
- Once terms are agreed upon, funds will be disbursed
- Use funds for approved expenses such as equipment or renovations
