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Sustainable Growth Investment Program│La Financière agricole du Québec

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Value

The financial assistance consists of an investment grant conditional on a loan guarantee from La Financière agricole. The maximum amount of eligible financing per business is $700,000. Assistance is paid out over a three-year period.

Description

The Sustainable Growth Investment Program has been in effect since June 17, 2022. It ensures the continuity of the Growth Investment Program.

This program was put in place for farmers who have investment projects to put forward, regardless of their production sector or which life cycle their business is in. It aims to support productive and sustainable investments.

Eligible Applicants

To be eligible, your project must involve:

  • The construction, renovation, or improvement of a building.
  • The purchase of production equipment and non-self-propelled machinery.
  • The initial acquisition of perennial plants or breeding stock.
  • Carrying out work aimed at the agri-environmental enhancement of cultivated land.
  • Conducting work such as digging a well or a water reservoir, as well as developing a water supply or irrigation system.
  • The implementation of on-farm agri-environmental projects.

In addition, to benefit from the Growth Investment Program, your project must:

  • Increase the production volume, performance, or profitability of your business.
  • Comply with animal welfare and/or organic production standards or any new requirements applicable to agri-food production.
  • Improve land under cultivation.
  • Adopt agri-environmental practices.

Eligible Expenses

The Sustainable Growth Investment Program has five components, each with specific eligibility requirements.

  • Component 1D: Growth Support – Available to all agricultural and agri-food businesses for the financing of projects related to productions other than those targeted in the 2D component. The maximum financial assistance is $15,000 on a loan guarantee of up to $150,000.
  • Component 2D: Growth Plus Support – Available to all agricultural and agri-food businesses for the financing of projects related to beef cattle, sheep, or goat production. The maximum financial assistance is $150,000 on a loan guarantee of up to $600,000.
  • Component 3D: Agri-Environmental Enhancement of Cultivated Land – Available to all agricultural and agri-food businesses for the financing of projects that will enhance the value of cultivated land or on-farm agri-environmental projects. The maximum financial assistance is $10,000 on a loan guarantee of up to $100,000.
  • Component 4D: Young Entrepreneurs – Available to all agricultural and agri-food businesses wholly owned by persons over the age of 18 and under the age of 40. In addition, one of these persons must have qualified the same business under the Financial Support Program for Aspiring Farmers within the previous five years. The maximum financial assistance is $45,000 on a loan guarantee of up to $300,000.
  • Component 5D: Working capital loan  – This component is intended for agricultural and agri-food businesses, whether or not they are FADQ financing clients, experiencing financial difficulties or with short-term liquidity needs, particularly as a result of rising interest rates and input costs.  Depending on their sales revenue, eligible businesses can benefit from a working capital loan guarantee of up to $200,000 over a ten-year period with no return of capital for the first three years, along with a financial assistance of up to $30,000.

Deadline Date

Ongoing.

Contact

Contact Name: La Financière agricole du Québec

Phone Number: 1-800-749-3646

Website: https://www.fadq.qc.ca/en/sustainable-growth-investment/description

Industry:

Agriculture

Location:

Quebec

Tags:

Construction, Equipment, Renovation. Agri-environment

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