Manitoba Agricultural Services Corporation

Eligibility

The program is available to individuals, partnerships, limited partnerships, corporations, and cooperatives. Qualifying applicants must be 18 years of age or older, personally operate the farm to which the loan applies, and be Manitoba residents and Canadian citizens or lawfully admitted to Canada for permanent residence.

Details

Loan Maximum

The maximum loan guarantee is not capped, thereby encouraging the establishment or further development of larger scale projects, such as those involving processing or, in some other way, adding value to raw product. MASC provides a {program_details::guarantee}% guarantee on the principal amount of loans approved under this program.

Interest Rate

If a variable rate is selected, the interest rate ceiling is at the individual's lender's prime rate plus {program_details::variable_add}%. If a fixed rate is selected, the rate is set at the lender's residential mortgage rate plus {program_details::fixed_add}%.

Repayment

Loan payments are to be made semi-annually or more frequently.

Contact

Loan applications should first be made by the client to the lender of their choice. If required, the lender then applies to MASC's Morris office for a guarantee to cover the loan.