In the case of a loan in respect of an item that forms part of, or is affixed to, real or immovable property, the borrower shall own the real or immovable property.
In the case of a loan in respect of an item that does not form part of, or is not affixed to, real or immovable property, the borrower shall own the item outright or have purchased it under a conditional sales contract.
The program has been designed to enable lenders to incorporate its administration into their normal routine of business, while providing government guaranteed loans to farmers and co-operative associations.
The information provided relating to the CALA is collected for Agriculture and Agri-Food Canada (AAFC) under the authority of the CALA for the purpose of efficient management of the program.
To demonstrate that a farm products marketing cooperative is eligible under the CALA, 50 percent plus one of the members or shareholders must provide a copy of an income tax form, farm financial statement or other evidence showing that they are engaged in farming in Canada.
An attestation from a notary that this requirement is met for a co-operative will suffice for this purpose.
Inquiries should be emailed to [email protected] or faxed to is defined under the CALA as "the production of field grown crops, cultivated, uncultivated and horticultural crops; the raising of livestock, poultry and fur-bearing animals; the production of eggs, milk, honey, maple syrup, tobacco, fibre and wood from wood lots."is defined under the CALA as a "cooperative association incorporated under the laws of Canada or a province for the purpose of processing, distributing or marketing on a cooperative basis the products of farming, with a majority of 50% plus one of members or shareholders that are farmers".