Basin Food Producer Loans provide loans for working capital and equipment purchases to help food producers expand operations due to increased pandemic-related demand.
This is a one-time loan, with a minimum request of $10,000. The interest rate on this loan is 2% per annum. No interest will be charged for the first three months. Interest only payments will continue for the following nine months at which point payments will begin in an amount to sufficiently repay the loan over a maximum period of five years.
Who Can Apply
Primary food producers. These producers grow grains, vegetables, fruit or forage or raise livestock for meat or dairy products. This temporary program is for food producers with farms and ownership located in the Columbia Basin Trust region.
To be eligible the food producer must not have accessed COVID-19 loan support funding from any federal, provincial or Community Futures programs.
How to Apply
Using the Online Application Site:
- If you are a first time user, you will need to create an account:
- Once signed in, you can select the applicable program.
- Download the applicable application guide to assist in completing your application.
- Click on the application form to initiate your online application. You may save drafts and submit your completed application at any point before the deadline.
- Once your application is complete click ‘Submit’.
- You will receive a confirmation email that your application has been received once you have clicked ‘Submit’.
Is My Business Eligible?
To be eligible for Basin Food Producer Loans the applicant must:
- earn its primary source of income through food production and sales
- have a minimum of $35,000 annual farm sales
- be operating and selling for at least two years
- be based in the Basin.
Food producers must also be able to provide:
- Most recent accountant prepared financial statements; or
- Latest year’s Statement of Farming Activities (T2042).
All applications will be subject to further due diligence as required by the Trust.
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