A new national foundation is being launched to promote post-secondary agricultural education to Canadian high school students.
The scholarships will be awarded in Alberta, Saskatchewan, Manitoba, Ontario and Quebec – with an additional scholarship available for students from other provinces or territories. Applicants will be considered on academic standing, past and current leadership attributes, and on an essay entitled "Why I am pursuing a career in agriculture." This scholarship program mirrors a successful initiative in the US called the Agri-Business Educational Foundation (ABEF), whose goal is to assist students interested in a career in agriculture.
"Our US counterparts have seen this program make a big difference there," says Hertz. "We're looking forward to similar success in Canada." CABEF and the Canadian scholarship program was officially launched at the Best of CAMA, the Canadian Agri-Marketing Association annual awards, in Quebec City in November.
Farm Credit Canada (FCC) has extended its loan program designed to help young farmers purchase or improve farmland and buildings.
Launched in March 2012, the Young Farmer Loan Program offers qualified producers who are under 40 years of age loans of up to $500,000 to purchase or improve farmland and buildings. The loan includes features and options that address this demographic and support their long-term success, including variable rates at prime plus 0.5%, a special fixed rate and no loan processing fees.
FCC has approved more than $500 million in loans since the program was announced, and is now doubling its commitment to $1 billion for lending to young farmers.
The Young Farmer Loan enhances FCC's suite of existing products and services that support young producers, such as the FCC Transition Loan, FCC Ag Knowledge Exchange events, FCC Publications, FCC on Campus, and FCC Management Software for both accounting and field management. In 2012-13, FCC approved $2.3 billion in financing to farmers under age 40, contributing to record disbursements of $7.7 billion to help customers expand or start their operations.