MASC - Lending Programs - Alternate Energy Loans

MASC is supporting rural Manitobans in seizing new market opportunities by offering the Alternate Energy Loan that assists projects such as smaller ethanol, bio-diesel and wind operations. These loans will increase the amount of processing of agricultural products in Manitoba (grains for ethanol and oilseeds for bio-diesel) and encourage environmental sustainable alternate energy sources.

• Loans can be used for the construction, equipping and other approved capital costs associated with projects such as building ethanol, bio-diesel or wind energy facilities.

Eligibility Criteria

• Applicants must be Manitoba residents who are at least 18 years of age and Canadian citizens or have lawful permanent residence status.
• Applicants do not have to be directly involved in farming.
• Loans are available for any qualified projects located in rural Manitoba.
• The operation must be considered potentially viable and meet security requirements.
• MASC's regular eligibility criteria, including the net worth cap and off-farm income, have been waived for this loan program.
• Normal lending practises regarding viability, cash flow and debt servicing do apply.

Terms and Conditions:

• Loans are available up to maximum of $825,000 for individuals and up to $1,650,000 for partnerships and corporations.
• Terms are up to 25 years.
• Interest rate is set at MASC's prevailing rate.
• There are no prepayment penalties.

For more information on these loans, please contact your local MASC lending representative.

Manitoba Contact(s):
Lending Corporate Office
Manitoba Agricultural Services Corporation
Unit 100 - 1525 First Street S.
Brandon, Manitoba  R7A 7A1
Telephone: 204-726-6850
Fax: 204-726-6849
E-mail: brandon.lending@masc.mb.ca
Web site: http://www.masc.mb.ca/