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Farm Improvement Loans Act extended for Canadian farmers
Parliament extended FILA to December 30 1986 after the last lending period ended June 30 1985. In 1984 1.9 million loans valued at over 5 billion were approved. 12 000 loans totaling 160 million were issued last year mainly for farm equipment. Borrowers may obtain guarantees through banks and designated lenders with up to 100 000 in guaranteed loans at up to 15 years. Borrowers must be farm operators or tenants with cost sharing and security requirements.
MENTIONED IN THIS ARTICLE
Alberta Treasury
Norman Dunn
Agriculture Canada
Farm Improvement Loans Administration
Dunn