Young Entrepreneur Loan
The FCC Young Entrepreneur Loan helps aspiring young farmers and business owners under 40 access affordable financing to start or grow their operations in Canada's agriculture and agri-food sectors.
- Farm Credit Canada
Overview of the Young Entrepreneur Loan program:
Farm Credit Canada (FCC) offers the Young Entrepreneur Loan to support individuals under 40 who are starting, purchasing, or growing a business in the agriculture and food sector. This loan is designed to ease the financial barrier for young entrepreneurs and provides access to flexible capital to develop new opportunities. The loan allows up to $1 million in financing and includes features tailored to the needs of early-stage entrepreneurs, such as interest-only payments for up to five years and the ability to finance working capital, assets, or business purchases. FCC emphasizes not just financial support but also long-term relationship building with young entrepreneurs to help them succeed in the ag industry.
Benefits of the Young Entrepreneur Loan program:
- Up to $1,000,000 CAD in financing
- Option for interest-only payments for up to 5 years
- Terms and interest rates are customized based on the applicants needs
Eligibility criteria of the Young Entrepreneur Loan program:
- To qualify for this program, the following criteria must be met:
- Must be under 40 years old
- Must be starting, purchasing, or growing a business
- Business must be in the agriculture, agribusiness, or agri-food sectors
- Applicant must be a Canadian resident
- Good credit history and ability to repay the loan is required
- Must provide a viable business plan and financial projections
- Individuals, partnerships, or corporations are eligible
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