Starting, running and maintaining a farm can become not only a huge physical burden on a person, but also cause financial distress as well. Many farm owners do not know this, but they may be eligible for financial assistance at all levels of the government. The Canadian Government today is making available to all sectors of the farming industry, government funding. Below you will find 5 reasons to start the application process today:
- Government grants and repayable loans are offered at better terms than regular loans. They are given to select applicants based on certain criteria that the applicants meet. If you are chosen as an approved applicant, this means the government see’s potential in your farm that can benefit you and the economy on the local, provincial or federal level.
- While it may seem like a caveat, it will actually benefit all parties involved; The funding can only be used to a certain aspect of the farm applying; If the applicant applied for a grant to improve process efficiency, the money can only be spent towards that and only that. With this control, the risk in the funding not returning anything fruitful is minimized.
- Better than getting a conventional loan. While the approval process could possibly be more difficult, getting a government grant can be less stressful than getting a loan from a financial institution. No matter what you owe the financial institution the money back, but if the endeavour fails, you may risk losing just more than your farm due to the amount owed or the collateral that was put towards the loan.
- Not a large selection pool. Many people do not know they have funding available to them; this includes any funding that you may be available for. By just finding out what is available for you, already gives you a leg up n the competition.
- No limitation on the application process. If you meet the criteria, you may be able to get multiple funding from different programs. If your farm is based on dairy and grain production, you may be eligible for funding in programs that touch both those categories.
To learn what you are eligible for, the Canadian Grant Business Center is to answer your questions today. Contact us at today at 1-888-231-0075.
The Canadian Grant Business Center is a Funding Research firm in Canada. Our 2016 publications cover over hundreds of funding programs available throughout Canada for all types of entrepreneurs.