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New loan program aids Canada’s young farmers growth
A $500 million Young Farmer Loan program was announced April 12 by federal minister Gerry Ritz and Farm Credit Canada CEO Greg Stewart. Eligible producers under 40 can borrow up to 500,000 to buy or improve farmland and buildings with prime plus 0.5 percent variable rates or fixed options and no processing fees. The program targets 18 to 39 year olds who comprise about 16 percent of Canadian producers per the 2006 census, aiming to build credit history and expand the industry. For more details visit FCC website.
MENTIONED IN THIS ARTICLE
Easie
Gerry Ritz
Farm Credit Canada
KCC
Greg Stewart
Canada
Ritz
FCC
Young Farmer Loan
Stewart