Ginseng Storage Loan Guarantee Pilot Program (GSLGPP)
Loan guarantee program created by the Government of Ontario that aims to assist the province’s ginseng farmers in sustaining and growing their business.
Deadline
Ongoing
Amount
Up to $1,000,000
Type
Loan
Provider
Agriculture Credit Corporation & Government of Ontario
Funding Details
Loan guarantee program created by the Government of Ontario that aims to assist the province’s ginseng farmers in sustaining and growing their business. It allows farmers to borrow at low rates, repay as you sell, and market product when prices are most advantageous.
Funding:
- Up to $1,000,000 at Prime Interest Rate per year
- Financing up to 24 months
- Funding available April each year, and eligible producers can apply at anytime during the year when ginseng inventories are available
- Deadline to repay: March 31st (24-month program)
Eligibility:
- Enrolled in AgriStability
- Own the ginseng inventory
- Ontario producer