Atlantic Canada Business Grants

Deferred Product Options

Amount:

No Fixed Amount

Type of Program:

Grants & Loan

Description:

This product is designed for development of Nova Scotia farm production where a long-range approach to cash flow generation is required. A deferred loan structure has been developed for: apple orchards, high bush blueberry development, low bush blueberry land clearing development, mink ranch expansions and general cash flow situations that require a principal deferment to help a farm manage its cash situation. 

Comments on Funding:

The applicant will pay interest and other fees, if applicable.
The NSFLB will consider applications for established producers with interest only payments for up to 5 years or a complete payment deferral on a major portion of the loan for 3 years.
The "Deferred Product Option" product is typically secured by real estate, quota and applicable guarantees.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must be:

  • existing producers,
  • new prospective farmers.

Application Steps:

Applicant must:

1

Applicants must complete the application form on their own, or call for a loan officer to assist or review it with them.

2

pitch their business at one of the pitch events hosted by Volta every six months, if selected,

Documentation Needed: 

Applicant must submit:

  1. 1
    a completed application form;
  2. 2
    a full Business Plan;
  3. 3
    Cheque for Service Fee – Required for New Clients to the Board or Repeat Applications;
  4. 4
    a 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;
  5. 5
    Void Cheque and EFT form to authorize payments by Pre-Authorized Debit (page 5 of Loan Application);
  6. 6
    Completed 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.
  7. 7
    Quota Information Declaration Form if applicable.
  8. 8
    Specific information for each business type, as following:
  • Sole Proprietor: Last 3 years Income Tax Return & Statement of Net Worth and/or 3 years’ financial statements.
  • Joint Tenants (Spouses): Last 3 years Income Tax Return & Statement of Net Worth for each individual and/or 3 years’ financial statements.
  • Partnership: Last 3 years Income Tax Return & Statement of Net Worth for each individual and/or 3 years’ financial statements. AND Signed Copy of a Legal Partnership Agreement.
  • Incorporated Business: 
  • Last 3 years, accountant prepared business financial statements.
  • Copy of Company’s Borrowing Resolution Certified by the Registry of Joint Stocks.
  • Copy of Signed Shareholders Agreement.
  • Completed Company Shareholder Information Summary Form.
  1. 9
    Other documentation to be provided at the application stage: 
  • Itemized Costs and
  • Plans / Drawings.
  1. 10
    Other documentation to be provided prior to disbursement of funds:
  • Evidence of costs (invoices or receipts),
  • Copy of Building permit,
  • Location Certificate.
  1. 11
    Written confirmation of Property Insurance coverage with the NSFLB as the named loss payable.

Applications are processed on the basis of a security appraisal, an assessment of the farming program and a review of the completed application form.

Program Contact:

​Deferred Product Option | Nova Scotia Farm Loan Board

​How to Apply | Nova Scotia Farm Loan Board​​​

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