Farm Credit Canada has launched a new program to offer loans of up to $50,000 to people between 18 and 25 years old.
The loans are “to build your credit history and gain independence with your own loan to purchase livestock, equipment or shares in a company,” the FCC said.
The loans are offered at “preferential rates, with no fees” for both primary producers and agri-businesses.
The program “shows our commitment to supporting our customers throughout their lifetime,” said FCC chief executive officer Michael Hoffort.
“A young borrower may have the goal of starting a cattle herd or purchasing some quota.
“Another may take their entrepreneurial vision to the next level with a vertical farming system or decide to purchase their first piece of equipment.
“It’s a start to a lifetime of possibilities,” Hoffort said.
