MASC - Lending Programs - Direct Loans

Manitoba Agricultural Services Corporation's Direct Loans provide financing to eligible Manitoba farmers with competitive interest rates no repayment penalties. Farmers can access MASC loans as a first step towards setting a sound farming operation.

Eligibility Criteria

• Individual farmers or individuals that are involved in a partnership, cooperative or corporate farm.
• Applicant must be a Canadian citizen residing in Manitoba, age 18 or over and with the ability, experience, knowledge and capacity to successfully operate a farm.
• The proposed farming operation must be considered viable and meet security requirements.
• Net worth cannot exceed $1,350,000 for new loans.
• The combined annual off-farm income of the applicant and spouse cannot exceed $125,000 at time of application.
   

Summary

A Direct Loan can be obtained for the purchase of land and/or buildings for agricultural purposes; the purchase of breeding stock; permanent improvements to land/buildings, construction/renovation of farm housing, production buildings and clearing, breaking and drainage of land, and debt consolidation.

FINANCIAL ASSISTANCE

• Direct Loans provide financing of up to a maximum of $825,000 for individuals and up to $1,650,000 for partnerships, corporations, and co-operatives with terms of up to 25 years.
• At no additional cost, the interest rate is fixed for the entire term of the loan. A five-year renewable interest rate is also available. 
• Payment options of monthly, quarterly or semi-annually are available.
• No penalties apply for pre-payment or early payout.

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/