ATB Financial in Alberta | Program aimed at mid-size businesses
A new loan program could help established Alberta producers become bigger.
ATB Financial announced a new $100 million business growth fund last week with the strength of the western Canadian economy in mind.
“Essentially these are stretch working capital loans,” said Wellington Holbrook, ATB’s executive vice-president for business and agriculture.
The program is intended to support established “high-growth” businesses considering new acquisitions, expansions or management buyouts.
“It wasn’t specifically designed for ag, but it’s certainly applicable to ag entities,” said Holbrook.
He said the fund is designed to help mid-sized businesses make these kinds of purchases without depleting their working capital when they’ve exhausted traditional forms of financing.
Loans of up to $1 million are available for owner-occupied real estate, machinery and equipment purchases.
