Launch of $100 million agriculture support fund
A new $100 million fund, designed to empower agricultural producers, has been launched to support the growth and development of the agriculture sector. This initiative offers tailored benefits such as reduced interest rates, no application fees, and no age restrictions, aiming to help farmers save money and reinvest in their operations.
The program is specifically structured to assist producers in acquiring land, buildings, equipment, and livestock, with up to $2 million in funding per producer. It excludes refinancing but provides a significant boost to new investments in agriculture.
“Conexus is dedicated to empowering ag producers to achieve what matters to them,” says Conexus Chief Growth Officer Garnett Volk. “We have designed this fund specifically for Saskatchewan producers and their operations.”
“As your local credit union, we understand and value agriculture’s contribution to the health of our economy. We are committed to our members’ success and to helping grow Saskatchewan agriculture for a thriving province.” said Volk.
This fund complements other agriculture-focused initiatives, including a program aimed at advancing agtech innovations by connecting producers with new technologies. This collaboration ensures that agricultural advancements reach Canadian farmers, promoting efficiency and innovation.
Highlights of the Fund
- Discounted Interest Rates: Special rates on fixed-term loans and mortgages.
- No Application Fees: Except for loans under the Canadian Agricultural Loans Act.
- No Age Restrictions: Open to producers of all ages.
- High Funding Limits: Up to $2 million per producer.
- Targeted Use: Dedicated financing for land, buildings, equipment, and livestock.
Producers interested in the program can connect with dedicated advisors for further details here. This initiative underscores the commitment to empowering agricultural producers and supporting innovation in the industry, ensuring a prosperous future for the sector.