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New Entrant Farmer Loan Program

ByMaurice
  • This program is currently closed.

Amount:

$750,000.00

Type of Program:

Loan

Description:

The New Entrant Farmer Loan Program provide financial assistance, in the form of loans, to persons entering into the agriculture sector. The program is designed to assist in the purchase of a farm and can complement other sources of lending such as Farm Credit Canada and other financial institutions. 

Comments on Funding:

Funding takes the form of loans of up to 100% of the appraised value of security, to a maximum amount of $750,000. It can be amortized up to 20 years at provincial lending rate.
Payments will be as follows:

  • during years 1 to 4– interest only,
  • year 5 to end of loan – blended payments of interest and principal.

During the first 4 years of loan, the New Entrant client may apply for additional loan for expansion or improvement (not exceeding the maximum amount of $750,000).

When It Ends:

Closed

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be persons entering into the New Brunswick agriculture sector and organized as a sole proprietorship, a partnership, an incorporated company or to be incorporated, or a cooperative,
  • have an acceptable combination of 6 years of post-secondary education and work experience on a farming operation,
  • have acceptable agricultural knowledge and business skills, and an acceptable credit history,
  • not own or have owned a farm, unless it was purchased within the last 12 months,
  • provide acceptable security for the proposed financing,
  • have a business plan that shows reasonable chances of viability and that demonstrates that a demand exists for the product(s).

Documentation Needed: 

Applicants must submit:

  • a completed application form,
  • a business plan.

Other Things to Note:

The New Entrant Farmer Loan is no longer listed among the programs.

Program Contact:

​New Entrant Farmer Loan Program

​FISHERIES DEVELOPMENT BOARD​​​

Related posts:

New Brunswick Small Business: Complete Guide for Entrepreneurs
How to Get a Small Business Loan in New Brunswick: Quick Guide for NB Entrepreneurs
Business License New Brunswick: Step-by-Step Guide, Costs & More
Franchise Opportunities in New Brunswick: How to Find Franchises for Sale + Mistakes to Avoid

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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