February 27, 2019 – Ottawa, Ontario - Agriculture and Agri-Food Canada
Canada's agriculture and food system is a leading producer of high-quality, safe
products and a key driver of the country's economic growth. The Government of Canada
understands the importance of this sector in creating good, middle-class jobs, while
growing the economy, and is committed to working with farmers, ranchers and processors
to ensure its continued innovation, growth and prosperity.
Minister of Agriculture and Agri-Food Lawrence MacAulay today delivered a keynote
address at the Canadian Federation of Agriculture's Annual General Meeting attended
by Canada's farm and agricultural industry leaders. In his remarks, Minister MacAulay
highlighted the Government of Canada's strong agenda for agriculture, including
growing trade, expanding markets, supporting innovation and sustainable growth.
Minister MacAulay also unveiled Farm Credit Canada's new Starter Loan to help young
borrowers involved in the agriculture sector access the financial capital and knowledge
they need to start and grow their business.
The Starter Loan is intended to give young borrowers the independence and financial
literacy skills they need, while establishing a solid credit history along the way.
FCC's Starter Loan is a catalyst for young borrowers to take that first step towards
achieving their dreams in Canadian agriculture. Loan funds can be used to finance
the purchase of assets such as livestock, equipment, or an existing business.
"The Government of Canada understands the importance of the agriculture and agri-food
sector and is committed to ensuring it remains an engine of growth for our economy.
By providing young farmers and processors with the tools and knowledge they need
to succeed, we will continue to help build a strong, innovative sector, while strengthening
our communities and growing the middle class." Lawrence MacAulay, Minister of Agriculture
"The FCC Starter Loan shows our commitment to supporting our customers throughout
their lifetime. A young borrower may have the goal of starting a cattle herd or
purchasing some quota. Another may take their entrepreneurial vision to the next
level with a vertical farming system or decide to purchase their first piece of
equipment. It's a start to a lifetime of possibilities." Michael Hoffort, FCC president
- Canada's agriculture and agri-food sector contributes over $114 billion to our gross
- The FCC Starter Loan of up to $50,000 is offered at preferential rates, with no
fees and is available to both primary producers and agri-businesses, for applicants
18-25 years old.
- Borrowers can contact their local FCC office for more information and to apply for
an FCC Starter Loan.
Farm Credit Canada