MASC - Loan Guarantee Programs - Enhanced Diversification Loan Guarantees

Enhanced Diversification Loan Guarantees assist with the diversification, innovation or value-added activities of farmers by guaranteeing project funds borrowed from participating commercial lenders. 

Eligibility Criteria

• Applicants must be 18 years of age or over, residents of Manitoba and a Canadian citizen or lawfully admitted to Canada for permanent residency.
• Applicants can be individuals, corporations, partnerships, limited partnerships or co-operatives.
• For individual applicants, their principal occupation must be farming.
• For corporations, partnerships or co-operatives, the majority of the control of the organization must be in the hands of individuals whose principal occupation is farming.

Summary

The maximum loan guarantee is not capped.  This is to encourage the establishment or further development of larger scale projects. MASC provides a 25% guarantee of the principal amount of loans approved under this program.

Interest Rate

If a variable rate is selected, the interest rate ceiling is at the individual's lender's prime rate plus 1.5%. If a fixed rate is selected, the rate is set at the lender's residential mortgage rate plus 1.5%. Loan payments are to be made semi-annually or more frequently.

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/