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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Farm Credit Canada

Advertiser Disclosure

About lender

Farm Credit Canada is a federal commercial Crown corporation. It is a lender that specializes in financing agriculture and food businesses. The company has already invested more than $44 billion in the Canadian agricultural sector and has more than 100,000 customers all over the country. FCC was founded over 60 years ago and has the expertise and connections to help customers’ businesses. Among their customers are crop input suppliers and retailers; equipment manufacturers and dealers; feed processors; wholesale, storage and distribution; grain handling and logistics. Also, FCC offers customers different types of investments. 

FCC offers a vast number of financial solutions. Generally, there are two industries that the company finances: agriculture and food and beverage. FCC offers:

FCC Credit Line

FCC Credit Line is a revolving, pre-approved loan that provides money for working capital. This type of loan doesn’t require any down payments and can be used for inputs, supplies, fuel, fertilizer, seed, and feed purchases. It has an open variable rate, and customers need to make interest-only payments.

FCC Advancer Loan

FCC Advancer loan is a pre-approved, secured loan that continually re-advances funds as you grow customers’ operations. This loan allows customers to buy land, buildings, livestock, quota, or other personal property. Also, they can continually re-advance funds and convert them in whole or part to a term loan with a fixed repayment schedule.

Real property loans

These loans can be given with variable rates that include a 10% prepayment, open rates with full prepayment privilege, fixed rates for the term of the loan, and rates that are fixed for the term of the loan with a 10% prepayment option included.

Personal property loans

These loans can be provided with variable rates with an anytime prepayment option; open rates are fixed for the term of customers’ personal property loan with the benefit of prepayment without penalty, and closed rates are fixed for the term of their personal property loan.

1-2-3 Grow

These interest-only loans help customers manage their cash flow with interest-only payments until they get a return on their investment.

Cash Flow Optimizer

Customers can re-invest funds into other areas of their operation by making interest-only payments.

Flexi-loan

These are loans with deferred payments for up to one year to take advantage of opportunities or ease cash flow during adverse conditions.

Start Now-Pay Later

Loans for customers who need to manage their cash flow with deferred payments while getting their operations up and running.

Equipment Financing

Customers can also apply for a loan to finance the required equipment purchase for up to 10 years. If customers apply for a loan under $100,000, they will not have to make a down payment, but if they borrow more than $100,000, they will have to. Also, the equipment financed by FCC will be secured, and customers can choose between fixed and variable rates.

Leasing

Customers can lease the required equipment through RCAP Leasing Inc, which provides referral programs in all dealerships across Canada. Customers don’t need to make any security deposits or extra security payments. Terms vary between 24 and 72 months, and customers will have an option to buy or re-lease equipment at the end of the lease term.

Transition Loans

Transition Loans may be a very suitable option for customers who need to transfer farm assets or for young farmers looking to build their farms. Disbursements are made to the seller over time, up to five years, and interest is charged only on the disbursed amount; what is more, the company finances the down payment for a maximum of seven years for qualifying purchasers while customers can choose between interest-only payments or principal-plus-interest payments.

Input Financing

This is a flexible way to free up customers’ cash flow. Customers will have 12 months to purchase fuel, fertilizer, and crop protection and 18 months to pay. Also, customers can match their operation's cash flow, allowing them to market their harvest at the best price possible before an annual payment is due.

Loan Insurance

Customers can also apply for loan insurance coverage that would suit them to protect their businesses from accidents or untimely death that could put their business and loved ones at risk if they are not insured. Customers can choose the amount and type of coverage right for them and only pay for the insurance and everyone in their operation needs. Also, the coverage includes accidental dismemberment insurance.

Starter Loan

FCC offers particular loans designed especially for those new to the agriculture industry and who want to start their own business. If older than 18, they can be approved for up to $150,000 to run their enterprise. This loan considers special 1-10 year fixed rates and no loan processing fees.

Capacity Builder

With these pre-approved loans, customers can purchase quota or breeding livestock for up to 18 months and have the option to capitalize interest.

Construction

Customers can build or expand with interim financing for up to 18 months on construction projects by deferring their principal payments.

Moreover, special loans are crafted for women, young farmers, young entrepreneurs, customers with a significant US dollar revenue, and environmental solutions.

Features

FCC specializes in exactly providing agriculture businesses with different financial products. They provide their services to crop input suppliers and retailers, equipment manufacturers and dealers, feed processors, wholesale, storage and distribution, grain handling and logistics, and others. 

The company provides customers with various financial products, whether lines of credit, loans, equipment financing, or leasing, so customers who run their agriculture businesses can find the most suitable option. Also, there are unique solutions designed for women entrepreneurs and young farmers. Moreover, the company has a particular type of loan for customers who are new to this industry and wish to start their businesses. 

What’s more, FCC also finances the food and beverage industry and provides loans to abattoir and meat processors; commercial bakeries; ethnic and specialty foods; food and beverage equipment; food processors and manufacturers; frozen foods, canning, and milling; grain and oilseed processing; packaging; seafood; wholesale and distribution; wineries and distilleries. 

Customers also can use some online tools that would help them to clarify possible payments. For example, customers can find mortgage, equipment loans and equipment lease calculators on the company's website. With the help of this tool, they can see how much they should pay monthly or annually.

Pros and cons

Pros

  • The company offers a lot of different types of lines of credit;

  • Customers who are new to the industry can be approved for up to $150,000;

  • There are several options for women entrepreneurs and young farmers;

  • The company also provides equipment leasing;

  • Customers can apply for any financial product online;

  • The company finances in both: the agriculture and food and beverage industries;

  • Sustainable environment-friendly solutions;

  • Customers can apply for insurance coverage to protect their businesses.

There are still several disadvantages that can impact customers' decisions. 

Cons

  • The company’s specialization is too narrow;

  • There is no sufficient information about rates, eligibility, and conditions on the company's website. 

Loan conditions

To apply for one of the financial products provided by FCC, customers need to choose the required service and contact the company. 

As the company has many different financial products, there are entirely different conditions for each. For example, some solutions require experience in running a business. However, there are some basic requirements that customers must fit in anyway. For example, they must be over the age of majority in their province and be Canadian citizens. Generally, all of these products require agriculture or food and beverage businesses. Also, customers need to provide several documents such as a net worth statement for each borrower, past income tax returns and/or accountant-prepared financial statements dating back three years, government-issued photo ID, recent pay stub, or written employer verification (for off-farm income). 

The company's products have different rates, terms, and repayment options. Generally, FCC offers customers to repay monthly; however, these terms can be adjusted.

For example, equipment financing implies a zero down payment for loans under $100,000 or a 10% down payment for loans under $500,000, with variable or fixed finance rates. In addition, there are no prepayment penalties.

Pre-approved lines of credit allow you to finance land or buildings. The conditions suggest interest-only payments and extended disbursements.

Livestock financing is performed within customized pre-approved limits. As a result, a reasonable down payment, no prepayment penalties, and competitive rates can attract customers.

Methods of loan funding

The company provides different financing types, and funding methods can be different too.

FCC

Reviews

FAQ

What is Farm Credit Canada?

Farm Credit Canada is a Canadian lender that provides agriculture and food and beverage businesses with different financial solutions. For example, customers who run such a business can apply for a line of credit, equipment financing or leasing, and insurance coverage. Also, they offer special products for new business customers, young farmers, and women entrepreneurs. 

Who owns Farm Credit Canada?

FCC is a financially self-sustaining federal commercial Crown corporation.

How do you qualify for Farm Credit Canada?

To be approved by FCC, customers must be at least 18-19 years of age, be Canadian citizens, or at least residents of Canada. However, different financial products have different requirements.

How much can you borrow from Farm Credit Canada?

Each financial product the company provides has different conditions. As a result, the borrowable amount depends on the type of loan.

Is it a legitimate company?

This is a legitimate company. Although BBB does not accredit it, it is a financially self-sustaining federal commercial Crown corporation reporting to Canadians and Parliament through the Minister of Agriculture and Agri-Food.

Company documents

Privacy Policy
Terms of use

The primary focus of the activities of the corporation shall be on farming operations, including family farms.

© Farm Credit Canada

Farm Credit Canada service available provinces

  • Ontario
  • Quebec
  • Nova Scotia
  • New Brunswick
  • Manitoba
  • British Columbia
  • Prince Edward Island
  • Saskatchewan
  • Alberta
  • Newfoundland and Labrador
  • Northwest Territories
  • Yukon
  • Nunavut
Farm Credit Canada service available provinces

Financial products

Farm Credit Canada
Construction
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Farm Credit Canada
Capacity Builder
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Farm Credit Canada
Starter Loan
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Farm Credit Canada
Loan Insurance
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Farm Credit Canada
Input Financing
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Farm Credit Canada
Transition Loans
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Farm Credit Canada
Equipment Financing
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Farm Credit Canada
Leasing
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Farm Credit Canada
Start Now-Pay Later
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Farm Credit Canada
Flexi-loan
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Farm Credit Canada
Cash Flow Optimizer
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Farm Credit Canada
1-2-3 Grow
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Farm Credit Canada
Personal property loans
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Farm Credit Canada
Real property loans
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Farm Credit Canada
FCC Advancer Loan
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Farm Credit Canada
FCC Credit Line
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Farm Credit Canada
Personal property loans
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Farm Credit Canada
Real property loans
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What to pay attention to when applying for a loan from Farm Credit Canada

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Farm Credit Canada from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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