Lending

Rates

Prime 3.40%

Overdraft 26.00%

Use these Financial Calculators to do loan and mortgage payments, calculations, retirement projections and more.

FarmPlan is a set of coordinated financial statements designed to calculate net worth (beginning and ending). Cash flow, Income statement and Debt Service Summary Based on Production and financial management plans for the coming year(s).

What to Bring?

When you want to come in to apply for a loan with us, we do require some information from you. It not only makes the loan process easier, smoother and faster, it also helps us structure the loan to fit your needs. Here is a list of the items we would require when you apply for your loan:

1. You, your spouse, your partner, guarantor or whoever will be involved in this loan.

2. Current employment information including a pay stub and most recent income tax return. If you are really prepared, you could bring a letter from your employer stating when you started your employment, your rate of pay and your likelihood of continued employment.

3. Current listing of all things you own such as account balances, investments, vehicles and real estate. We will also need a list of all debts such as credit cards, lines of credit, loans and mortgage. Please include payment amount.

We offer a full range of lending products and services:

Personal Loans

  • Loans for consumer based purchases (vehicles, household goods, and holidays) and debt consolidations
  • Flexible terms and repayment schedules
  • No prepayment penalty

Residential Mortgages

  • Financing to purchase your home, recreational property and home renovations
  • Conventional mortgage financing (requires 25% down payment)
  • Mortgage financing through CMHC (Canadian Mortgage Housing Corporation) with flexible down payment options
  • Competitive floating or fixed interest rates
  • Amortization to a maximum of 25 years

Lines of Credit

  • Convenient to use: always available
  • Authorized overdraft limit is attached to your chequing account
  • Cost effective (you only pay interest on the amount that you are using and for as many days you use it)

Quick Loans

  • Permanent loan to help with unexpected expenses
  • Once it is approved the loan is available when you need it

Education Loans

  • Designed to help the student with post secondary educational expenses
  • Guaranteed by parents
  • Interest paid annually while in school
  • Principal repayment starts 3 months after studies completed

RRSP Loans

  • Convenient and disciplined option to save for retirement
  • Designed to help with your annual RRSP contribution

Agricultural Loans

  • Financing is available to assist with operating expenses or the purchase of livestock, equipment and land
  • Available as a line of credit, term loan or mortgage
  • Flexible terms to match the loan purpose and your income stream
  • Conventional financing is available or through government programs such as CALA
  • We use the FARMPLAN program to record your present financial situation and to make adjustments for your upcoming year’s business plan

Business Loans

  • Financing is available to assist with operating expenses or the purchase of inventory and business equipment
  • Available as a line of credit, term loan or mortgage
  • Flexible terms to match the loan purpose and your income stream
  • Conventional financing is available or through government programs such as CSBFA