Ottawa got just $15M back from $40M+ loan to cricket protein company
The company that promoted insect protein as a climate-friendly food alternative has reportedly only paid back $15 million from a $40 million loan provided by Farm Credit Canada.
Farm Credit Canada has recovered only $15 million of the more than $40 million it loaned to Aspire Food Group, the company behind the government-backed “crickets for food” scheme, and it refuses to say how much taxpayers have actually lost.
The figures were revealed in a response to an Order Paper Question from Conservative MP John Barlow (Foothills), answered January 26.
According to Agriculture and Agri-Food Canada, Farm Credit Canada advanced $36.5 million in 2022 and another $4.19 million in 2024 to Aspire Food Group, a company that promoted insect protein as a climate-friendly food alternative.
As of 2025, Aspire had repaid only $15 million.
The government also confirmed Aspire defaulted on its loan obligations.
“Certain events of default occurred,” the response states. On January 24, 2024, Farm Credit Canada issued a demand letter and moved to enforce its security under the Bankruptcy and Insolvency Act. The loans were not repaid, and in May 2025, Aspire was placed into receivership under FTI Consulting.
Aspire’s assets were later sold to Halali Group Holdings, with the Ontario Superior Court approving the transaction in October 2025. Following that sale, Farm Credit Canada received an interim distribution of $15 million from the proceeds.
But when asked how much of the remaining balance was written off or forgiven, Farm Credit Canada refused to answer.
“Farm Credit Canada is not in a position to disclose the details of specific loan losses, write-offs, or loan forgiveness for Aspire or any other borrower,” the agency said, calling the information “commercially sensitive.”
Ottawa can say how much it handed out. It can say how little came back. But it won’t say how big the hole is.
Sheila Gunn Reid
Chief Reporter
Sheila Gunn Reid is the Alberta Bureau Chief for Rebel News and host of the weekly The Gunn Show with Sheila Gunn Reid. She's a mother of three, conservative activist, and the author of best-selling books including Stop Notley.
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COMMENTS
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Fran G commented 2026-01-31 12:44:10 -0500There has to be a time in our future that these political liberal criminals are behind bars after they have given back the billions they have put into their offshore accounts. -
Robin Dutton commented 2026-01-31 09:46:56 -0500Nothing to see here, just another taxpayer money pit. Pie in the sky dreams, or should I say crickets in the sky dreams.
We’ll just chalk this up next to battery, hydrogen and E-bus failures. No one complains, nothing changes. -
Bernhard Jatzeck commented 2026-01-29 20:56:09 -0500There isn’t a financial sinkhole that the Liberals don’t like. Come to think of it, maybe it’s not a sinkhole but a wormhole, miraculously directing money to certain bank accounts. Go is not passed and $200 is not collected.
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Bruce Atchison commented 2026-01-29 20:02:05 -0500Of course the book would be thrown at any non Liberal-connected firm or individual. It’s who’s butt you kiss that matters in Ottawa.
