Nova Scotia Department of Agriculture Archives - Atlantic Canada Business Grants

This program is currently closed.

Amount:

$5,000.00

Type of Program:

Grants

Description:

The Small Farm Acceleration Program supports small farms in Nova Scotia through business planning and strategic growth. There are three funding streams:

Stream 1 consists of a loan interest rebate for qualifying project items that were detailed in the Farm Growth Action Plan;
Stream 2 consists of direct funding assistance for qualifying project items that were detailed in the Farm Growth Action Plan and Form and pre-approved by Nova Scotia Department of Agriculture (NSDA) staff;
Stream 3 consists of assistance for contracting mentors and/or professional advisors.

Comments on Funding:

Funding for Phase 1 is up to 50% in assistance to a maximum of $2,500 for consultant assistance for the business plan or $1,250 for applicants who choose to create their own Business Plan and Growth Action plan.

Funding for Phase 2:

Stream 1: Loan Interest Rebate funding is up to $5,000 per program year to a maximum of one loan per program year.
Stream 2: Project Grants funding is a 50% cost-share up to $5,000 annually on eligible project items.
Stream 3: Business Advisory Services funding is a 50% cost-share up to $2,500 annually for on-going business advisory services.

When It Ends:

Ongoing

Deadline:

June 30, 2022

Eligibility:

Applicants must:

have beginning and existing farms with less than $60,000.00 of Gross Farm Income
be at least 19 years of age
currently and accurately registered under the Farm Registration Act.

Application Steps:

Applicant must:

Applicants must complete Phase 1, submitting: the Farm Registration through Access Nova Scotia, and Program Funding Registration and Small Farm Acceleration Phase 1 program application.

If approved, applicants will receive a PHASE 1 Letter of Agreement (LOA) that identifies the eligible project activities, assistance offered, and the terms and conditions under which assistance is approved. The LOA must be reviewed, signed, and returned to the Programs office within 60 days in order to secure funding.

If the Phase 1 Assessment is deemed complete, a confirmation letter of approval and application form to apply for Phase 2 streams will be sent to the applicant.

If approved for Stream 1 of Phase 2, applicants will receive a loan interest rebate statement of compensation along with a copy of the approved and signed repayment agreement.

If approved for Stream 2 or 3 of Phase 2, applicants will receive a PHASE 2 Letter of Agreement (LOA) that identifies the eligible project activities, assistance offered, and the terms and conditions under which assistance is approved. The LOA must be reviewed, signed, and returned to the Programs office within 60 days in order to secure funding.

Documentation Needed:

In order to apply for Phase 1 funding assistance, the applicant must submit:

the Farm Registration through Access Nova Scotia,
Program Funding Registration,
Small Farm Acceleration Phase 1 program application,
a signed PHASE 1 Letter of Agreement (LOA), if approved.

In order to apply for Phase 2 funding assistance:

a Phase 2 Eligibility Assessment must be completed by NSDA staff including the following: proof the applicant has completed the Growing Your Farm Profit (online tool), a completed Farm Growth Action Plan Form, and a copy of the business plan.
a loan interest rebate statement of compensation along with a copy of the approved and signed repayment agreement signed by the applicant, if approved for Stream 1 of Phase 2.
a PHASE 2 Letter of Agreement (LOA) signed by the applicant, if approved for Stream 2 or 3 of Phase 2.

Other Things to Note:

Its subsequent program (Small Farm Acceleration Program 2021-2022) is also closed as applications for the first phase are no longer possible.

Program Contact:

Small Farm Acceleration Program 2019-2020

SFA Guidelines.pdf

Amount:

$30,000.00

Type of Program:

Interest Relief

Description:

The FarmNext Program aims to encourage and support new farmers establishing a commercial farm in Nova Scotia. By contributing to the interest accrued on a new loan, program funds are intended to improve the financial stability of the new farm business in the first years of operation.

Comments on Funding:

Funding shall not exceed the lesser of:

projected calculation of 4 years of eligible interest, or
$30,000 maximum benefit.

Funding to applicants will be based on a projected calculation of eligible interest calculated by the financial institution issuing the loan.
Refinancing of existing loans is not eligible.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must be:

be new farmers,
have a current Farm Registration,
be at least 19 years of age,
be establishing a new commercial farm or purchasing an interest in an established commercial farm in Nova Scotia for the first time. A commercial farm is defined as a farm business which generates an annual eligible gross agri-business income of $30,000 or more.

Application Steps:

Applicant must:

complete the program funding registration form along with the FarmNext application.

submit to the Programs and Business Risk Management office.

Documentation Needed:

Applicants must submit:

their application and repayment agreement forms within 6 months of loan approval,
a copy of the loan agreement,
their partnership/shareholder agreement,
CRA farming revenue and expenses.

Other Things to Note:

Applications will be accepted for the FarmNext program until funds are exhausted.

Program Contact:

FarmNext Program

21-22_FarmNEXT_Program_Guidelines.pdf