Atlantic Canada Business Grants

Lease

New Land Purchase Program

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  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Lease

Description:

Through the New Land Purchase Program the Agricultural Development Board can purchase eligible land and lease it to an applicant for a period of up to six years. The applicant agrees to purchase the land at the end of the lease. Approved land development work can be part of the lease. 

Comments on Funding:

Financing of land is up to 100% of enhanced value. Land is purchased by the Agricultural Development Board (ADB) and then leased for 6 years.

Payments will be as follows:

  • during years 1 and 2, annual lease payments are deferred (based on the equivalent of the annual provincial lending rate and the lease amount),
  • beginning in year 3, annual lease payments made at the beginning of each year.

When It Ends:

Closed

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a 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, 
  • show an acceptable amount of equity in the business,
  • provide acceptable security for the proposed financing,
  • propose a land that has not had any agricultural crop produced or harvested during the previous 2 years, excluding unimproved forage land,
  • 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.).

Documentation Needed: 

Applicants must submit:

  • a completed application form,
  • a business plan.

Other Things to Note:

The New Land Purchase Program is no longer listed on the government's website.

Program Contact:

​New Land Purchase Program

​FISHERIES DEVELOPMENT BOARD​​​