Agricultural Loans

Agricultural Loans

No one knows the value of lending a helping hand better than the farmers and ranchers of our communities. Offering flexible loan products that help you when you need it is just our small way of returning the favour.

Our Agriculture Loans feature:

  • competitive rates
  • flexible repayment plans
  • flexible terms
  • fixed and variable rate options
  • no prepayment penalty

Agricultural Line of Credit Expand/Collapse

No matter how careful you are and how well you plan, agriculture can be unpredictable. From bad weather to poor markets, unexpected bills or failing equipment, cash flow crunches can be a grim reality in your industry. Having access to cash during these crunches is important. Our Agricultural Line of Credit lets you to borrow funds whenever you need them. You just apply once, get approved for a certain amount and it's yours to access for anything you need, whenever you need it.

Features of our Agricultural Line of Credit:

competitive rates overdraft protection
no repayment restrictions
easy access to funds
interest paid only on what you use

Agricultural Quick Loans Expand/Collapse

Our Agriculture Quick Loans offer the predictable structure of a loan and the flexibility of a revolving line of credit. With re-advanceable funds up to an approved limit, you just apply once and then access the money whenever you need it. Once you've paid down the loan, you can have the funds re-advanced without having to apply again.

Agriculture Quick Loan features:

  • competitive rates
  • flexible terms and repayment plans
  • no prepayment penalty

Canada Agricultural Loans Act (CALA) Expand/Collapse

This federal financial loan guarantee program gives eligible Canadian farmers and farm producers easier access to credit. CALA is designed to both support the renewal of the agricultural sector and help co-operatives to take advantage of unique market opportunities.

CALA loans can be used to:

  • purchase farm real estate, livestock (breeding herd) and farm equipment (including repairs)
  • construct farm buildings
  • purchase crop storage condominiums
  • consolidate certain types of debt
  • supplement a farm's energy use with power from renewable sources
  • process, distribute or market the products of farming

CALA Loans feature:

  • up to 80% of required capital for eligible business assets
  • up to $500,000 for land and construction or improvement of buildings
  • up to $350,000 for other loan purposes
  • up to $3 million for farm product marketing cooperatives
  • maximum term of 10 years (15 for land)
  • terms that match loan purpose and income stream
  • flexible repayment options and variable rates

Learn more about CALA here.
(CALA replaced the Farm Improvement and Marketing Cooperatives Loans Act.)

Equipment Leasing Expand/Collapse

Equipment is one of your biggest investments, but you need it to generate revenue.  If buying a piece of equipment or machinery just isn't possible, we offer a leasing option through CU Lease, a Credit Union-owned leasing company. Leasing allows you to retain your capital and still get the equipment you need to keep your operation running. 

Some of the benefits of leasing equipment include:

  • competitive lease rates
  • less up-front cost than a loan down payment
  • fixed payments with terms between two and five years
  • repayment can be tied to your seasonal cash flow

Investment Loans Expand/Collapse

Sometimes investment opportunities come along before you have the cash on hand to take advantage of them. To help you get - and stay - on track with your investment strategy, we offer RRSP Loans and TFSA Loans. Not too sure if this is the right strategy for you? Our Wealth Management Professionals are ready to help.

Agricultural Mortgages Expand/Collapse

Whether you're looking to build a home, expand your land holdings or refinance, we can help you with an Agricultural mortgage.

Our Agricultural Mortgage features:

  • a loan amount of up to 75% of the appraised value or purchase price
  • 1-5 year term options
  • up to 25 year amortization
  • fixed or variable repayment options
  • competitive interest rates
  • prepayment flexibility
  • optional and affordable protection for your investments

Ag Flex Mortgage Expand/Collapse

Our Ag Flex Mortgage can give you the freedom to access credit both quickly and easily!
The Ag Flex Mortgage is pre-approved and provides you with the ability to re-advance funds and the capability to continually access financing as your operation grows.
The mortgage has an initial credit limit and allows multiple term loans, lines of credit and quick loans to be approved within it.
  • Customize your mortgage by selecting multiple term loans
  • Choose from various term and repayment options
  • flexible repayment options including ability to pay interest only

Whether you are purchasing land, upgrading equipment, expanding your herd or investing in infrastructure, the Ag Flex Mortgage is the perfect financial tool to meet your unique needs.
 

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