(NC) As the saying goes, it takes money to make money. But saving up enough to invest in your business can be challenging. For farmers, the costs involved are particularly high.

From increasing the acreage to constructing a barn or investing in livestock, there are many ways to improve a farm and grow revenue, however, a loan would likely be needed.

Whether you’re new to farming or established in the field, it might be worth considering an alternative to private loans, such as the Canadian Agricultural Loans Act Program, or CALA. This program can help those looking to establish, improve or expand their farming business with lower interest rates and down payments, and flexible repayment options and incentives.

You may qualify for up to $500,000, with the federal government guaranteeing 95 percent of the loan – meaning access to better interest rates and lower minimum equity.

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