| |
Alberta Disaster Assistance Loan Program |
|
| |
|
|
| |
 |
Program Information |
 |
|
|
| |
| |
|
|
| Eligibility |
| Primary producers in Alberta whose farm operation is jeopardized by the specified types of disaster. |
| |
|
|
|
| |
| |
|
Program Details |
|
|
|
|
|
|
| |
| |
Purpose
The Alberta Disaster Assistance Loan Program (ADALP) helps Alberta producers restore the working capital needed to maintain their farming operations after an agricultural disaster. ADALP offers short-term emergency response that covers all segments of the agriculture industry.
Eligibility
This loan is available to primary producers when the viability of their farming operation is jeopardized by a disaster, which is defined, for the purposes of this program only, as follows:
- Crop production yields less than 70% of normal;
- Severe loss of revenue beyond normal commodity cycles;
- Net margin decline exceeding 30% of established reference margin as determined by the AgriStability program.
Loan Uses
You can use the ADALP to restore sufficient working capital to maintain farming operations. The ADALP can also be used to provide financial restructuring as needed, but is not intended to support expansion or further development.
Maximum Loan Amounts
The maximum loan available to individual or connected persons is $1 million.
Repayment and Interest Rates
The interest rate is fixed at 5% for a maximum period of 10 years. ADALP loans can be prepaid or paid in full at any time without penalty.
For more information, contact your nearest AFSC Lending Office. To find the office location closest to you, please click on this link. |
|
| |
| |
|
|
| |
For more information about the content of this document, contact Ag-Info Centre.
Last Reviewed/Revised on October 2, 2009.
|
|