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AFSC Boost Loan Capital for Farmers and Businesses | |
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From the May 4, 2009 Issue of Agri-News | |
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The maximum loan or guarantee provided by AFSC to any individual or entity has increased to a cumulative total of $5 million, up from $2 million. Significantly larger project limits of up to $25 million will allow AFSC to assist with larger agricultural and other eligible projects. The former limit was $10 million.
AFSC lending programs provide access to long-term, fixed rate financing with flexible repayment options for all eligible farmers and commercial businesses, in addition to prepayment privileges without penalty. The option for 20-year fixed-rate financing is unique to AFSC, and interest rates are competitive.
These changes, reflecting Premier Ed Stelmach's mandate to provide better access to capital for Alberta's farmers, are effective as of April 1, 2009.
"This is another tool our Alberta producers and business owners can use to help establish, grow or sustain their operations," said George Groeneveld, Minister of Agriculture and Rural Development. "During these uncertain times, it is important that Alberta's agribusinesses and producers continue to have access to the capital they require in order to continue being innovative and industry leaders in Canada."
AFSC provides lending and business risk management products and services in 50 offices throughout Alberta.
Contact:
Richard Bell
Vice president - lending
AFSC
403-782-8335
The contents of this page are no longer available.
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For more information about the content of this document, contact Lee Anne Bateman.
This document is maintained by Rita Splawinski.
This information published to the web on April 29, 2009.
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