Purpose
MASC can provide a guarantee to lenders for producers interested in diversifying their current operations and/or adding value to agricultural commodities. The program assists in overcoming problems such as equity and security shortfalls, limited production experience, and new products.
Qualifications
- The program is available to individuals, partnerships, corporations, and co-operatives. The majority of the applicants must be residents of Manitoba and Canadian citizens (or have lawful permanent residence status).
- The project must demonstrate, based on the business plan, satisfactory cash flow and long-term profitability to service the debt.
Terms and Conditions
- The maximum principal available is not capped.
- Fixed or floating interest rates can be selected but rates cannot exceed maximum levels established by MASC. For floating rates, the maximum is the individual lender’s prime rate plus 2 per cent. For fixed rates, the maximum is the individual lender’s residential first mortgage rate for the term plus 2 per cent.
Apply
Potential clients apply to the participating lender of their choice. If a lender indicates a guarantee is required, an application is then made to MASC.
