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La Financière agricole du Québec

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Protection against Interest Rate Hikes

Eligibility

General Conditions

To be eligible, you must:

  • Be over 18 years of age
  • Be domiciled in Quebec and be a Canadian citizen or permanent resident under the Immigration and Refugee Protection Act (S.C. 2001, c. 27)
  • Have your business held by at least 50% of individuals involved in farming
  • Show good profit-making potential
  • Abide by the environmental standards set forth in the Environment Quality Act and the Agricultural Operations Regulations, including the requirements involving the phosphorus report and operating rights Other conditions must also be met, based on the legal status of your farming business. For more details, consult the program (PDF in French). Your business must meet the conditions that made it eligible for the duration of the contribution to pay interest.

Other conditions must also be met, based on the legal status of your farming business. For more details, consult the program (PDF in French).

Your business must meet the conditions that made it eligible for the duration of the contribution to pay interest.

The following clients are not eligible for the Protection against Interest Rate Hikes:

  • Borrowing members
  • Goods and services
  • Agricultural businesses

Other Conditions – Preferred Rate (PR)

  • Full-time and part-time farming clientele

The 1-year mortgage rate must exceed 8.30% for the PR to initiate a payment.

Other Conditions – Secure Rate for Aspiring Farmers (SRAF)

In addition, to benefit from the SRAF, the farming business of the aspiring farmer must include at least one business operator who meets the following conditions:

  • Be between 18 and 40 years of age
  • Be a part-time or full-time aspiring farmer
  • Hold at least 20% interest in the farming business
  • Have at least one year's relevant experience in farming

A maximum of $500,000 in protection is based on the business’ outstanding debt.

The 1-year mortgage rate must exceed 4.30% for the SRAF to initiate a payment, until march 31st 2026.