 |
Management Training Credit
The days of the 'simple' farm are long gone. Today's farmer must act as a manager, agronomist, commodity trader, machinist and more, often with little formal training or guidance.
As part of MASC's Bridging Generations Initiative, the Management Training Credit encourages young farmers to acquire management skills. As a young farmer, you can earn valuable training in such areas as business and financial planning, tax implications, marketing, employee management and computer usage. When you successfully complete your training, you'll receive a {max_percent}% credit on the principal amount of an MASC loan.
Estimate your MTC savings with the MASC Loan Calculator
- Features
- Eligibility
- Contact
- Links
Program Features
The Management Training Credit is a {program_details::max_percent}% credit of the principal amount of an eligible MASC loan, up to an annual maximum of ${program_details::max_annual} (available in each of the first five years of the loan). The lifetime maximum credit available is ${program_details::max_lifetime}.
Manitoba Agriculture, Food and Rural Initiatives (MAFRI) staff will assist in developing training plans based on an individual's requirements in consultations with the farmer. Eligible training is available from recognized educational facilities and from MAFRI.
Eligibility
Eligible Applicants
To qualify for an MTC on your MASC loan, you must be 18 to 39 years of age, operate a farm in Manitoba, and satisfy the annual training requirements. You must complete the training requirements (minimum of 25 credit hours per year, as determined in consultations with MAFRI staff) before the MTC is applied to the loan.
Eligible Loans
The MTC is available on MASC loans made for purchases of land, whole farm, breeding livestock or permanent improvements, as well as debt consolidation, refinancing, farm housing and equity share financing. Loans of no less than ${min_loan} and no more than ${max_loan} are eligible.
Multiple loans approved at the same time can be combined to meet the MTC minimum required loan total (${min_loan}); however, loans approved at different times cannot be combined in this way.
The MTC is available for loans through MASC's Direct Loans, Comprehensive Refinancing, and Alternate Energy programs.
Note: The MTC is not available for Environmental Enhancement loans.
Contact
For more information about the MASC Management Training Credit, contact your local MASC Lending Representative.
Related MASC Links |
External Links |
