Business and Agriculture Mortgage Options at Edam Credit Union Limited

 

Conventional Business and Agriculture Mortgage

 

Whether you're purchasing a new building, expanding your current facilities, expanding your land holdings or looking to refinance, we've got a Business and Agricultural mortgage product that offers great rates, flexible payments and room to grow.

 

Our Conventional Mortgage offers

  • a loan amount of up to 75% of the appraised value or purchase price (whichever is less)

  • 1-5 year term options

  • up to 25 year amortization

  • fixed or variable repayment options

  • competitive interest rates

  • prepayment flexibility

  • for new builds - optional monthly interest only payments during the construction period (up to one year)

  • optional and affordable life, disability, loss of employment and critical illness insurance coverage to protect your investment

 

For more information or to book an appointment with one of our lending specialists, contact us.

 

Canada Agricultural Loans Act (CALA) Mortgage

 

The Canada Agricultural Loans Act (CALA) is a federal government guaranteed loan program designed to provide eligible farmers and farm co-operatives with easier access to funds they need to grow their operations. Its purpose is to help Canadian farmers finance improvements and fund the processing, distribution and marketing of farm products. CALA loans can be used to:

  • purchase farm real estate, livestock (breeding herd) and farm equipment (including repairs)

  • construct farm buildings

  • purchase crop storage condominiums

  • consolidate certain types of debt

  • supplement a farm's energy use with power from renewable sources

CALA features

  • up to 80% of required capital for eligible business assets, therefore a smaller downpayment  of 20% is required

  • maximum term of 15 years

  • flexible repayment options

  • variable interest rates

  • expenditures made within 60 days before the day on which the loan is disbursed are eligible for financing

 

For more information or to book an appointment with one of our lending specialists, contact us.

 

Canada Small Business Financing Program (CSBFP) Mortgage

 

Edam Credit Union offers these loans under the Canada Small Business Financing Program (CSBFP), which exists to help small businesses like yours get established, expand, modernize and improve.

Business Improvement Loans feature:

  • no minimum borrowing requirement, with the maximum loan amount set at $500,000

  • up to 90% financing for eligible business related assets, therefore a smaller downpayment  of 10% is required

  • fixed or variable rates

  • flexible repayment options

  • amortizations of up to 10 years

  • expenditures and assets purchased up to 180 days prior to the loan approval date are eligible for financing

 

While you'll need to meet the eligibility requirements of the program, your loan will be processed in branch and handled quickly and confidentially by a lending specialist who understands your goals.

 

For more information or to book an appointment with one of our lending specialists, contact us.

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