|
News
|
Canada | Grants
A total of 67,000 farmers will benefit from Canada's interest-free loans to overcome COVID-19 The Canadian Ministry of Agriculture has relaxed the initially proposed requirements to qualify for these loans, which could represent up to $ 2.68 billion in interest-free loans, 25% non-repayable. 5/25/2020
 Canadian grower.
The non-repayable portion of the interest-free loans from the Canadian Emergency Business Account (CEBA) could represent direct assistance of $ 670 million to agricultural producers. It is estimated that by expanding the eligibility criteria for CEBA as announced on May 19, we have more than doubled the number of producers who will be able to benefit. The change could represent up to $ 2.68 billion in interest-free loans to Canadian producers, of which 25% is non-repayable. Each producer can get a maximum interest-free loan of $ 40,000, so the government will forgo a maximum of $ 10,000 if it is repaid in full by the end of 2022. "The announcement of the expanded eligibility criteria for the Canadian Business Emergency Account (CEBA) is very important for all agricultural producers in the country. Many producers have told us that they cannot take advantage of CEBA because they do not meet the criteria. We listened to them and now a total of 67,000 farms, or 36,500 more, are eligible for the program. To mitigate the impact of COVID-19, our government has always said it values punctuality and we continue to improve programs to fill in the gaps. Producers who still cannot access CEBA are invited to take advantage of the Regional Relief and Recovery Fund. We want to assure producers that they can count on us and that we continue to take steps to help our agricultural sector. "said Marie-Claude Bibeau, Canadian Minister of Agriculture and Agri-Food.
Sign up to our newsletter
|
|||||||||
© Copyright Infoagro Systems, S.L.
