Agricultural Lending for Saskatchewan First Nation Farmers

The Saskatchewan Indian Equity Foundation (SIEF) provides collateral and operating loans to Saskatchewan Indian farmers.

Eligibility Criteria

• only treaty or status Indians residing in Saskatchewan are eligible
• must be a viable farming, ranching or related agribusiness operation in Saskatchewan
• maximum of 70% financing for capital items
• all loans must be secured by eligible assets
• security may include chattel mortgage security, security under the Personal Property Security Act, conditional sales contract, assignment of crop insurance, security over crops and inventory, assignment of other payments or receipts, life insurance on the borrower, branding of livestock with SIEF's registered brand
• a band council resolution is required from the Chief and Council giving SIEF access onto the reserve to inspect and realize upon security
  

Summary

SIEF's mandate is to facilitate Indian agricultural development in the province by providing access to financial assistance under reasonable terms and conditions. They can provide short-term operating loans for equipment and livestock purchases to qualifying farmers.

APPLICATION CRITERIA

SIEF applications must include a statement of net worth, past income/expense statements, cash flow projections, cropping and/or livestock plan, and general information regarding the applicant's management ability and character. Applications will be assessed on their individual merits and must demonstrate: 

• that the operation is or can be viable
• that the owners have a reasonable equity investment in the project
• that there is a realizable security to adequately cover the loan
• that cash flows will service all debt requirements
• that management capacity is in place
• that past credit history is satisfactory
  

Saskatchewan Contact(s):
Northern Region
Ms. Caroline Maze
Agriculture Manager
Saskatchewan Indian Equity Foundation (SIEF)
1192 - 102 Street
North Battleford, Saskatchewan  S9A 1E9
Telephone: (306) 446-7486
Fax: (306) 446-7447
E-mail: cmaze@saskel.net