Atlantic Canada Business Grants

Aquaculture and Fisheries

Industry Development Programs: Livestock Incentive Loan Program

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

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

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

Agricultural Insurance

Amount:

No Fixed Amount

Type of Program:

Insurance

Description:

Agricultural Insurance is a valuable business risk management tool that provides farmers with financial protection against production losses caused by natural perils, such as drought, excessive moisture, hail, frost, wind and wildlife.

Comments on Funding:

Applicants can select a plan that guarantees 60%, 70% or 80% of an average yield. Premium costs are shared between producers and the provincial and federal governments.
On a crop year basis, producers pay 40% of the total premium cost for comprehensive insurance coverage. Together, the federal and provincial governments contribute the other 60%.
Administrative costs are not included in the total premium cost; instead, administrative costs are fully funded by both levels of government. 

When It Ends:

Ongoing

Deadline:

Deadlines vary according to crop

Eligibility:

The applicant must:

  • be New Brunswick farmers,
  •  grow an eligible crop. Insurance is currently available for apples, grains, grain corn, oilseeds, pulse crops, potatoes, sweet corn, strawberries, fresh market vegetables and wild blueberries in New Brunswick.

Application Steps:

1

Applicants must submit the completed application form specific for their crop to the NB Agricultural Insurance Commission.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

The Agricultural Insurance is part of the Canadian Agricultural Partnership.
The deadline for purchasing insurance varies according to crop. In general, perennial Agricultural Insurance is sold in the fall. All others are generally sold prior to planting.

Program Contact:

Agricultural Insurance

Agricultural Insurance - Agriculture

New Brunswick Crop Insurance Commission

Brunswick’s Indigenous Agriculture Development Program

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

Brunswick’s Indigenous Agriculture Development Program provides funding to support First Nations communities, individuals or organizations who are interested in participating the New Brunswick agricultural industry, including local foods.  

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be located in the Province of New Brunswick,
  • be Indigenous individuals,
  • be Indigenous communities or governments, including a band or tribal council or a government of a self-governing First Nation,
  • be Indigenous for-profit or not-for-profit corporations, associations, cooperatives or institutions,
  • be Indigenous businesses, partnerships or joint ventures,
  • apply for project funding under any program of the Canadian Agricultural Partnership, as below:
  • Business Development Program,
  • Advancing Agri-Food Processing,
  • Agri-Industry Development and Advancement – Market and Product Development,
  • Agri-Industry Development and Advancement – Agri-Land Enhancement,
  • Agri-Industry Development and Advancement – Advancing Crop and Livestock Sectors, (includes Livestock Genetics)
  • Enabling Agriculture Research and Innovation,
  • Environmentally Sustainable Agriculture,
  • Mitigation, Prevention, Occupational Health and Safety,
  • Public Trust and Agricultural Awareness.

Other Things to Note:

For more information about New Brunswick’s Indigenous Agriculture Development Program, please contact Terry Sullivan, Senior Advisor, Aboriginal Relations at 506-429-4521. 

Program Contact:

NB-Indigenous-Agriculture-Development-Program.pdf