Atlantic Canada Business Grants

Agriculture, Aquaculture and Fisheries (Department) (DAAF)

Industry Development Programs: Livestock Incentive Loan Program

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Amount:

$75,000.00

Type of Program:

Loan & Loan Guarantee

Description:

The Livestock Incentive Loan Program provides loans to financial institutions for New Brunswick farmers purchasing and raising livestock. It also provides guarantees to financial institutions for approved livestock purchases. 

Comments on Funding:

Funding takes the form of loans of up to $75,000.
The program guarantees up to 90% of loan, at lenders’ prime interest rate + 1%. The term of the guarantee will be up to 18 months for the purchase of feeder livestock and up to 7 years for the purchase of breeding livestock.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a full-time or a part-time New Brunswick farmer organized as a sole proprietorship, a partnership, an incorporated company or to be incorporated, or a cooperative,
  • have acceptable agricultural knowledge and business skills, and an acceptable credit history,
  • invest at least 10% equity in the project,
  • 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),
  • work on a project that fits with the province’s sector strategies (in terms of impact on agricultural land, jobs, export sales, markets, etc.).

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

Applicants must submit:

  • a completed application form,
  • a business plan.

Other Things to Note: 

No other details available.

Program Contact:

Livestock Incentive Loan Program

FISHERIES DEVELOPMENT BOARD

Industry Development Programs: Agriculture Loans

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides repayable loans to promote development of the agriculture sector as a complementary lender. Clients interested in a DAAF loan must first seek financing from a private lender. DAAF’s loan program may then be available to help fill the gap between the assistance required and what the client has been approved for privately. New entrants, defined as someone who has owned a farm for five years or less, may be eligible for lower interest rates and equity requirements.

Comments on Funding:

Interest rates are determined on a case by case basis. Repayment terms are matched to the cash flow of the project as supported by the business plan. Options include interest only payments or principal and interest payments.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a sole proprietorship, a partnership, an incorporated company or to be incorporated, a cooperative from New Brunswick, or a new entrant (defined as someone who has owned a farm for five years or less),
  • have first seeked financing from a private lender,
  • use the financing for:
  • purchasing an existing farm,
  • starting a new farm,
  • purchasing shares in a farming operation,
  • purchasing land for farming,
  • developing land for farming,
  • working capital requirements,
  • invest, or have invested, a minimum 10% (new entrants 5%) equity into the project,
  • provide acceptable security for the proposed financing,
  • have a business plan.

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

Applicants must submit:

  1. 1
    a completed application form,
  2. 2
    a business plan which includes:
  • a description of business and project,
  • financial information (minimum of three years of projected income statements and cash flow statements and previous three years financial statements or income tax returns (if existing operation)),
  • a description of management plan,
  • a marketing plan,
  • productions details. 

Other Things to Note:

No other details available.

Program Contact:

FISHERIES DEVELOPMENT BOARD

Agriculture Loan and Loan Guarantees

Industry Development Programs: Agriculture Loan Guarantees

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Amount:

No Fixed Amount

Type of Program:

Loan Guarantee

Description:

The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides loan guarantees to promote development of the agriculture sector as a complementary lender. Clients interested in a DAAF loan guarantee must first seek financing from a private lender.

Comments on Funding:

There is a loan guarantee fee of 1.5 % of the amount guaranteed, paid at the beginning of each year.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a sole proprietorship, a partnership, an incorporated company or to be incorporated, a cooperative from New Brunswick, or a new entrant (defined as someone who has owned a farm for five years or less),
  • have first seek financing from a private lender,
  • use the financing for: 
  • purchasing an existing farm,
  • starting a new farm,
  • purchasing shares in a farming operation,
  • purchasing land for farming,
  • developing land for farming,
  • working capital requirements,
  • invest, or have invested, a minimum 10% (new entrants 5%) equity into the project,
  • provide acceptable security for the proposed financing,
  • have a business plan. 

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

Applicants must submit:

  1. 1
    a completed application form,
  2. 2
    a business plan which includes:
  • a description of business and project,
  • financial information (minimum of three years of projected income statements and cash flow statements and previous three years financial statements or income tax returns (if existing operation)),
  • a description of management plan,
  • a marketing plan,
  • productions details. 

Other Things to Note:

No other details available.

Program Contact:

Agriculture Loan Guarantees

FISHERIES DEVELOPMENT BOARD

Fisheries Loans

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Amount:

No Fixed Amount

Type of Program:

Loan

Description:

The Fisheries Loans provide financial assistance in the form of loans to new or existing commercial fishers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The Department of Agriculture, Aquaculture and Fisheries (DAAF) acts as a complementary lender, so clients interested in a DAAF loan or loan guarantee must first seek financing from a private lender.

Comments on Funding:

Interest rates are determined on a case by case basis. Repayment terms are matched to the cash flow of the project as supported by the business plan. Options include interest only payments or principal and interest payments. New entrants may be eligible for lower interest rates and equity requirements.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a sole proprietorship, a partnership, an incorporated company or to be incorporated, a cooperative from New Brunswick, or a new entrant (defined as someone who has owned a farm for five years or less),
  • have first seek financing from a private lender,
  • use the financing for: 
  • the purchase of a new or used vessel,
  • the purchase of an engine or equipment related to fisheries,
  • making major repairs to the hull or engine of a vessel,
  • the purchase of a commercial fishing license or obtain a quota,
  • invest, or have invested, a minimum 10% (new entrants 5%) equity into the project,
  • provide acceptable security for the proposed financing,
  • have a business plan. 

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

Applicants must submit:

  1. 1
    a completed application form, 
  2. 2
    a business plan which includes:
  • a description of business and project,
  • financial information (minimum of three years of projected income statements and cash flow statements and previous three years financial statements or income tax returns (if existing operation)),
  • a description of management plan,
  • a marketing plan,
  • productions details. 

Other Things to Note:

The Fisheries Loans (New Entrant Loan) and The Fisheries Loans no longer have separate program descriptions, so I've comprised them here as well.

Program Contact:

Fisheries Loan and Loan Guarantees

FISHERIES DEVELOPMENT BOARD

Fisheries Loan Guarantees

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Amount:

No Fixed Amount

Type of Program:

Loan Guarantee

Description:

The Fisheries Loan Guarantees provides loan guarantees to New Brunswick fishers and sea farmers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The program is designed to share the financial risk with financial institutions.

Comments on Funding:

There is a loan guarantee fee of 1.5 % of the amount guaranteed, paid at the beginning of each year. Repayment terms are matched to the cash flow of the project as supported by the business plan. Options include interest only payments or principal and interest payments.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a sole proprietorship, a partnership, an incorporated company or to be incorporated, a cooperative from New Brunswick, or a new entrant (defined as someone who has owned a farm for five years or less),
  • have first seeked financing from a private lender,
  • use the financing for:
  • the purchase of a new or used vessel,
  • the purchase of an engine or equipment related to fisheries,
  • making major repairs to the hull or engine of a vessel,
  • the purchase of a commercial fishing license or obtain a quota,
  • invest, or have invested, a minimum 10% (new entrants 5%) equity into the project,
  • provide acceptable security for the proposed financing,
  • have a business plan.

Application Steps: 

No specific steps have been identified.

Documentation Needed: 

Applicants must submit:

  1. 1
    a completed application form,
  2. 2
    a business plan which includes:
  • a description of business and project,
  • financial information (minimum of three years of projected income statements and cash flow statements and previous three years financial statements or income tax returns (if existing operation)),
  • a description of management plan,
  • a marketing plan,
  • productions details. 

Other Things to Note: 

No other details available.

Program Contact:

Fisheries Loan Guarantees

FISHERIES DEVELOPMENT BOARD