Farmland Financing Program — Up to 450 Acres ### 📋 Eligible Entities - Agricultural businesses and farms (operating or startup) - Individual farmers and farming partnerships - Agricultural corporations - Family farming operations - Entities with demonstrated agricultural experience or intent to operate farmland commercially - Canadian citizens or permanent residents with farming operations ### 💰 Funding Details - Loan Amount: Up to 80% of farmland purchase price - Maximum Land Size: 450 acres - Interest Rate: Fixed at 6% per annum - Payment Options: - Interest-only payments (during initial period) - Fixed principal + interest repayment schedule - Repayability: Term loan (repayment required; non-forgivable) - Matching Requirement: Borrower must provide minimum 20% equity/down payment ### 🛠️ Approved Expenses - Purchase price of farmland (primary use) - Land acquisition costs - Associated legal and appraisal fees may be eligible (confirm with lender) Note: Funds are restricted to land purchase only; operating costs and equipment are typically not covered under this program. ### ⚠️ Conditions & Milestones - Maximum property size cannot exceed 450 acres - Loan secured by first mortgage on the farmland - Borrower must provide proof of 20% down payment before loan disbursement - Land must be valued through independent appraisal - Borrower must demonstrate agricultural viability and operational capacity - Interest-only period (if selected) typically has defined end date, after which principal repayment begins - Ongoing compliance with agricultural use requirements - Regular loan servicing and repayment obligations apply