Running a modern-day farm typically comes with a big financial undertaking. Whether you’re purchasing your first farm or transitioning a family operation, the Bridging Generation Initiative helps the next generation of farmers succeed through:
- access to agricultural financing;
- flexible financing terms options;
- flexible repayment terms; and
- financial incentives.
Accessible, Flexible Financing
Securing financing can be challenging when starting or expanding a new farming operation. With no proven track record or large down payment, a young farmer might not find reasonably priced financing to secure an agricultural loan.
The Bridging Generations Initiative provides agricultural loans to young farmers with flexible financing and repayment to assist in the critical start-up years where every dollar counts. Eligible young farmers (18 to 39 years of age) can opt for either:
- 90 per cent financing, significantly reducing the down payment required; or
- 5 years of interest-only payments, easing cash flow concerns while an operation is being established.
Young Farmer Rebate
A cornerstone initiative for young farmers in Manitoba, the Young Farmer Rebate helps young and beginning farmers establish, manage, and expand their farming operations.
The Young Farmer Rebate gives eligible young farmers an annual rebate of up to 2 per cent on the first $400,000 of the total loan principal, each year in the loan’s first five years, with a lifetime maximum rebate limit of $40,000.
Learn more about the Young Farmer Rebate.
Beginning the Process
Contact your local MASC Service Centre to set up an appointment to meet with one of our dedicated specialists, to begin the next steps of the process.
