Canadian Agricultural Loans Act (CALA): Who Qualifies and What You Get
Learn how government-guaranteed loans can help new or established farmers in Canada develop their farms and reduce lending risks.
The Canadian Agricultural Loans Act (CALA) provides government-guaranteed loans to help individuals improve or develop their farming operations.
Who it's for
This scheme is designed for both new and established farmers who need financial support to grow or improve their farm business.
What you get
You can access loans that are guaranteed by the government. This guarantee reduces the risk for your lender, which can make it easier for you to secure the financing needed for your agricultural work.
What it costs you
There is a registration fee that must be paid by the borrower.
The catch to know
You do not apply for this money directly from the government. Instead, you must work through your regular bank to manage the application and loan process.
How to apply
- Contact your local bank or financial institution to discuss your farming needs.
- Work with your lender to determine if you qualify for a guaranteed loan.
- Follow your bank's specific application process for the scheme.
- Visit the official portal for more details: https://agriculture.canada.ca/en/programs/canadian-agricultural-loans-act