Agricultural Loans Act
Grow, Diversify and Expand Your Farming BusinessThe Agricultural Loans Act (ALA) is a federal government program designed to finance farm improvements, and fund the processing, distribution and marketing of farm products.
A Green Finance Agricultural Loan Is Commonly Used For:
- Financing real estate or other large farm assets
- Long-term financing – loan terms are up to 20 years, and 35 years when financing land
- Expanding existing farm operations
- Farm products marketing co-operatives are eligible if at least 50% + 1 of the members are farmers
Ready to Apply?
- Green Finance Farm Loan Program offers various terms up to 20 years with a maximum amortization of 35 years
- No annual fees
- Payment schedule to fit your cash flow
- Prepay options available based on the interest term you select
Get the Financing You Need
Individual farmers can receive up to 80% financing (new farmers up to 90% financing) of the asset’s value to a maximum of $500,000 for property assets or up to $350,000 for all other eligible assets.
Competitive Interest Rates
- Maximum interest rate on variable rate loans is Prime + 6.50%
- Maximum interest rate on fixed rate loans is the Residential Mortgage Rate + 6.50%
Wide Range of Assets Eligible for Financing
Eligible assets include land, buildings, construction, machinery, livestock, consolidation, share purchases and crop storage condominiums.
Flexible Payments Available
Choose to make payments on a schedule that works for your farm business; monthly, quarterly, semi-annually or annually.