Farm Credit Canada has outlined what borrowers will need to access the federal government’s promise of up to $500,000 additional credit.
“To get your funding request processed quickly and efficiently, it’s helpful to have all your financial information together before you submit,” the FCC said in a news release.
This includes:
- Current net worth statements including:
- Accounts receivable, inventory, prepaid expenses and
- Accounts payable, and loan or lease payment information;
- Recent bank, credit card, mortgage and loan statements;
- Personal income tax returns and company financial statements;
- Financial statements for any other non-farming business you operate or own;
- Operational/financial highlights of the farm or business ;
- Information on ownership/share structure of the companies to be associated with the loan, and
- Projections for the upcoming year.
FCC said “please call the Customer Service Centre at 1-888-332-3301 or your local FCC office to take advantage of the COVID-19 support program.”
