Manitoba Agricultural Services Corp. will now offer loans for Manitobans to develop small-scale ethanol, biodiesel or wind power projects.
The province’s new alternate energy loans program, announced Thursday by Agriculture Minister Rosann Wowchuk, will loan up to $525,000 per individual or $1.05 million per corporation or partnership for terms up to 25 years, for qualifying projects outside of Winnipeg.
For these loans, MASC, the province’s ag lender and crop production insurance provider, will waive its usual direct lending rules regarding minimum income, off-farm income and the net worth limit. Applicants also don’t have to be directly involved in farming.
“By providing loans to help with the capital costs of these projects, more Manitobans will be in a position to seize new market opportunities and increase economic activity in rural areas,” Wowchuk said in a release Thursday.
