Farm Land Identification Program
Highlights
This program is designed specifically for businesses like yours. It offers up to $1,000,000 in financing to help you make essential purchases and grow your business. Additionally, you can receive an extra $150,000 for software or daily operating costs.
What You Get
- Up to $1,000,000 in financing
- $150,000 for software or operating expenses
The funds can be used for:
- Operating expenses
- Restorations
- New equipment
- Software
- And much more
The key difference between this loan and others is that it is backed by the government, giving you flexible repayment options with up to 15 years to pay it back. This makes it easier to manage your finances and focus on growing your business.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Training and development programs.
- Marketing and promotional activities.
- Research and development projects.
Ineligible Expenses:
- Personal expenses.
- Debt refinancing.
- Real estate purchases.
- Salaries for existing staff.
Fees:
- No application fees.
- No processing fees.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
Business must be operating in New Brunswick.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Softwood lumber industry.
- Professional services such as marketing firms, creative agencies.
Description
This program offers your business up to $500,000 in funding. You can use this money to buy new equipment, improve your facilities, or cover other essential costs.
Examples of what you can use the money for:
- Upgrading machinery or technology
- Renovating your workspace
- Purchasing new tools or vehicles
You can also use the funds for operational costs, like software or inventory, ensuring your business runs smoothly.
Key benefits:
- No repayment required for the first 12 months
- Low-interest rates to make borrowing affordable
- Flexible repayment terms up to 10 years
This program is designed to help your business grow and succeed. It provides the financial support you need to invest in your future.
Program Steps
Gather Required Documentation: Prepare the necessary documents for the application. You will need:
- Business registration details
- Financial statements (last two years)
- Business plan
- Tax returns (last two years)
- Proof of business address
- Identification documents for business owners
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit the completed application form along with the required documentation. This can be done online or through the designated submission method specified by the program.
Await Confirmation: After submission, you will receive a confirmation of receipt. Keep this confirmation for your records.
Participate in Follow-Up: Be prepared for any follow-up requests for additional information or clarification. Respond promptly to ensure a smooth application process.
Review Approval Terms: Once your application is approved, review the terms and conditions of the program. Ensure you understand your obligations and benefits.
Implement Program Benefits: Upon approval and receipt of any funds or resources, begin implementing the benefits as outlined in your application. Ensure compliance with all program guidelines.
Maintain Records: Keep detailed records of how the program benefits are used. This may be required for future audits or reporting.