Agricultural Loans Act

Agricultural Loans Act
Grow, Diversify and Expand Your Farming Business
The 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

Eligibility Requirements:

  • Farm products marketing co-operatives are eligible if at least 50% + 1 of the members are farmers

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  • 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

Key Benefits

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.

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