Yes, provided he is personally and primarily liable for the loan and the collateral is his own property rather than the assets of the enterprise he invests in. The current qualifying amount is US$1,050,000, or US$800,000 in a targeted employment area or infrastructure project, subject to statutory adjustment from January 1, 2027.
Personal liability and personal collateral decide it
The rule distinguishes between an investor who borrows on his own credit and puts the proceeds at risk, and one whose debt is really carried by the project. Hypothetical example: the South Frontenac landowner mortgages two hundred acres he holds in his own name, signs personally for the debt and transfers the advance to the project's escrow account. That is his capital at risk: if the project fails he still owes the lender and could lose the land.
Contrast a structure where the regional center arranges the loan, the project guarantees it or the security is the investor's interest in the project itself; there the investor's own exposure is limited and the capital may not qualify. Confirm the loan documents name him as borrower, that the collateral is the farmland, that no repayment guarantee comes from the project, and that the amount advanced meets the applicable threshold together with any other funds. Keep the immigration fees and project administrative charges outside the qualifying capital figure.