The Value Added* & Agribusiness** Program (VAAP) was designed to provide enterprises with suitable financing to start, develop and grow their businesses.
VAAP loans are available to Canadian citizens or landed immigrants who meet Alberta residency requirements. Companies must be incorporated in Canada and registered to conduct business in Alberta.
You can use the Value Added & Agribusiness Program loan to start, expand, purchase, or upgrade facilities, equipment, or other capital assets needed for your business. VAAP also covers working capital expenditures, including training costs, that support new or expanded operations or products for value added or agribusiness enterprises and change of ownership.
Maximum Loan Amounts
The maximum loan to an individual or any group of connected individuals or companies is $5 million. If you qualify, you can re-borrow up to the maximum limit as loans are paid down or paid out.
Repayment and Interest Rates
Our repayment options offer you a choice of various reasonable fixed and renewable rates and terms, for a maximum period of 20 years. The interest rate can be fixed over the entire life of the loan, ensuring long-term stability and the ability to manage cash flow risk. VAAP Loans can be prepaid or paid out in full at any time without penalty.
*Value Added – Defined as an activity that changes, alters or modifies a product that adds value to the product through a business or manufacturing process. Enterprises that are retail or service industries are not considered Value Added.
**Agribusiness – Defined as an enterprise involved in an Agricultural Industry.
For more information, contact your nearest AFSC Lending Office. To find the office location closest to you, please click on this link.