Source: Agri-Info
Starting or upgrading a farm can be tough, especially during the uncertain times of COVID-19. If you’re new to farming or require increased access to capital, the Canadian Agricultural Loans Act (CALA) program may be a good fit for you.
CALA is a loan-guarantee program designed to make loans more available to farmers and agricultural co-operatives. Whether you need help establishing, improving, or expanding your farm, CALA can help. This program offers low interest rates and down payments, flexible repayment options, and incentives for new farmers.
You’re eligible to apply if you are:
- An existing farmer
- A beginning farmer (those who have been farming for less than 6 years)
- A start-up farmer
- Taking over the family farm
- A part-time farmer
- An agricultural co-operative, as long as at least 50 percent + 1 of your members are farmers
Get the help you need with $500,000 in combined loans and a repayment period of 10 to 15 years. These funds can be used to buy land, equipment, livestock, and to cover construction or repairs, among many other costs.
The CALA program is available through your bank, credit union, or caisse populaire.
Learn more about how the Canadian Agricultural Loans Act program can benefit you.
