What questions do you want to ask the Farm Credit Canada?

farm credit canada questionsAs per my post about young farmers loan some insights about  Farm Credit Canada, I contacted the FCC about having an interview. They have agreed to have the interview with me about loans the application process.

I have some questions I would like to ask them about getting a loan. I know my questions are only going to be from my perspective, so I would like to get some questions from your perspective.

What would you like to what questions do you want answered from the FCC? Remember, these questions are going to be about getting loans specifically. Obviously, I can’t get into details about personal finances.

However, if you have some burning questions about loans with the FCC, please leave your questions in the comments. I will do everything I can to get those questions answered.

I don’t know how long the interview is going to be, so I may pick some select questions that represent the broadest points.

Here are the questions off the top of my head:

  • What are the steps to getting a young farmers loan?
  • What kind of down payment/additional security doesn’t typical loan need?
  • Hypothetical situation, let’s say I want to buy a farm that costs $500,000 take me through the process of getting alone?
  • What do you consider additional security?
  • Do you absolutely need a business plan?
  • Does a business plan improve your chances of getting approved?
  • How much can you be approved for?

 

What questions do you want to ask Farm Credit Canada?

Comments

  1. What do you do when you don’t have the do when you don’t have the down payment? What options are available to those farmers?

  2. Daniel Duke says:

    What are the qualifications requirements for a farm loan. So far the little research I have done online makes it seem like getting a farm loan is similar to getting a mortgage. You will need good credit. You will need a steady job (off farm income). Most likely the lending institution will want you to have some “skin in the game” (down-payment). My question is confirming the above, and the percentage of the down-payment. Also, can you qualify with no off-farm income, and the merits of a business plan only? I doubt it, that would seem to risky for the lending institution. How is the farm purchase going by the way?

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