Potato Financing Program
Amount:
No Fixed Amount
Type of Program:
Loan
Description:
The Potato Financing Program provides assistance to eligible PEI Potato farmers impacted from the recent suspension of both seed and fresh table stock potatoes entering the United States through a joint partnership of Finance PEI and the Department of Agriculture and Land.
Comments on Funding:
Funding is a loan that will have a 5-year term with a 4% interest rate, amortized over a maximum of 25 years. The maximum loan to any one group of related companies is $5M.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
Applicants must:
Application Steps:
Applicants must submit the completed application and any other required supporting documentation to Finance PEI.
Documentation Needed:
Applicants must submit:
- 1the completed application form,
- 2most recent year-end financial statements,
- 3most recent listing of Accounts Payable,
- 4most recent property tax bill,
- 5the amount of ‘fresh’ potatoes in storage under contract for processing, table stock and seed in CWT.
Other Things to Note:
The program will be administered through Finance PEI and the Department of Agriculture and Land.
