Cattle and Sheep Deferred Financing
Amount:
No Fixed Amount
Type of Program:
Loan
Description:
This program was developed to support cattle and sheep farmers where there is a proven plan for the expansion of livestock to implement long-term viability of their operation. The Farm Loan Board offers flexible lending terms including payment deferrals that will complement the Nova Scotia Cattle and Sheep Industry Development Program.
Comments on Funding:
The loans are intended to be based on personal property securities. Security documentation for these loans will be Promissory Note, General Security Agreement, and personal guarantees of shareholders (if a company). Loans more than $50,000 may require additional security.
When It Ends:
Ongoing
Deadline:
Rolling Deadline
Eligibility:
Applicant must:
Application Steps:
Applicants must:
submit a Nova Scotia Farm Loan Board application form with supporting documentation (checklist)
any additional information that may be requested by their loan officer.
Documentation Needed:
Applicants must submit:
- 1a completed application form;
- 2a full Business Plan;
- 3Cheque for Service Fee – Required for New Clients to the Board or Repeat Applications;
- 4a summary of their education, training, work and farm experience, and a description of your current farm program and marketing program, if New Clients to Nova Scotia Farm Loan Board;
- 5Void Cheque and EFT form to authorize payments by Pre-Authorized Debit (page 5 of Loan Application);
- 6Completed Group Life Insurance Application Form for at least one applicant (contact your local office for application forms), or written confirmation of Life Insurance through a private policy assigned to the Nova Scotia Farm Loan Board.
- 7Quota Information Declaration Form if applicable.
- 8Specific information for each business type, as following:
- 9A copy of the Notice of Assessment issued by the Canada Revenue Agency;
- 10Copy of two pieces of current government photo ID (birth certificate, driver’s license, etc.);
- 11Quotes or invoices from supplier.
Other Things to Note:
This program will complement the Nova Scotia Cattle and Sheep Industry Development Program.
