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Wind turbines near St. Leon
Alternate Energy Loans
Manitoba thrives on diversity, including its energy sector where hydroelectric capacity towers above more traditional technologies like coal-fueled generation.
MASC's Alternate Energy Loans can assist in developing new market opportunities by providing financing for projects (including but not limited to) such as smaller ethanol, bio-diesel and wind operations. Alternate Energy Loans can be used for construction, equipment purchases, and other approved capital costs associated with alternate energy projects.
- Features
- Eligibility
- Details
- Contact
- Links
Program Features
Though applicants do not have to be directly involved in farming, the Alternate Energy Loans program is aimed at providing Manitoba farmers and rural entrepreneurs with the financial support to construct or equip facilities for the production of alternate energy.
Eligibility
Eligible Applicants
MASC’s regular eligibility criteria associated with net worth cap, off-farm income, and minimum farm operation income are waived for this loan program. All other loan requirements such as viability, cash flow, and debt servicing do apply.
Individuals applying for an Alternate Energy Loan must be:
- 18 years of age or older
- a Manitoba resident and a Canadian citizen (or lawfully admitted to Canada as a permanent resident)
Corporations, partnerships and cooperatives are also eligible for this program.
Eligible Projects
Projects eligible for MASC's Alternate Energy Loan program must be located in rural Manitoba and provide the facilities necessary for energy generation from alternate sources.
Details
Loan Maximum
Alternate Energy Loans are available up to ${max_individual} for individuals and up to ${max_corporation} for partnerships and corporations.
Interest Rate
The interest rate for Alternate Energy Loans is set at MASC's prevailing rate.
Repayment
Alternate Energy Loans have loan terms of up to {max_term} years, with monthly, quarterly, or semi-annual payments being available. There are no prepayment penalties.
Contact
For more information about the MASC Alternate Energy Loan program, contact your local MASC Lending Representative.
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