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Operating Credit Guarantees
Operating Credit Guarantees assist producers in obtaining lines of credit from participating lending institutions with reasonable terms.
The Operating Credit Guarantee can be used for general farm expenditures, living expenses, current year's principal and interest payments on existing loans, and in cases of emergency, limited capital purchases.
- Features
- Eligibility
- Details
- Contact
- Links
Program Features
Operating Credit Guarantees are flexible enough to accommodate traditional Manitoba farmers and those producers and agricultural enterprises undertaking diversification and value added activity.
The program has a ${program_details::guarantee_cap} million revolving guarantee cap with no specific caps on an individual lender basis.
Eligibility
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 operating loan to be guaranteed by MASC's Operating Credit Guarantee is ${program_details::max_individual} for individuals and single shareholder corporations, and ${program_details::max_corporation} million for partnerships, corporations, and cooperatives.
Interest Rate
Interest rates will be capped at prime plus {program_details::rate_add}%.
Repayment
The loans are repayable annually or at the completion of a production cycle.
Contact
Potential clients apply to the participating private lender of their choice. If the lender assesses that the client's application would benefit from a guarantee, the lender in turn applies to MASC. Most lender submissions will be processed within 24 hours.
Senior Credit Analyst Manitoba Agricultural Services Corporation Unit 100 - 1525 First Street S. Brandon, MB R7A 7A1 Tel: (204) 726-7083 |
Related MASC Links |
External Links |
