Nova Scotia Farm Loans
Highlights
If your business is in the agriculture or agri-food sector in Nova Scotia, this financing program is crafted just for you. Whether you're starting a new venture, purchasing equipment, or managing cash flow, this program has a variety of lending products tailored to your needs. No minimum or maximum revenue requirements mean businesses of all sizes can apply, making it accessible and inclusive.
Here's what's in it for you:
- Flexible Financing Options: From land and infrastructure to clean technology projects, this program covers it all. Whether you're expanding livestock, orchards, or vineyards, or focusing on processing or wild blueberry farming, there's a loan option for you.
- Joint Financing Opportunities: If you're interested in partnerships, the program offers joint financing with FarmWorks, providing even more support for your projects.
- Ease of Qualification: With no restrictions on employee numbers or profit structures, it's designed to support your unique business needs.
Being approved for this program means you can focus on what matters most—growing your business. It's a straightforward process, and we're here to guide you every step of the way. Let's make your business goals a reality.
Financing Details
Loan Options: The program offers various loan products tailored to meet the specific needs of farmers and agricultural businesses. These loans can be used for starting a business, purchasing equipment, consolidating debt, and other cash flow needs.
Repayment Terms and Interest Rates:
- The loans typically come with flexible repayment options, which can be customized based on the borrower's cash flow.
- Interest rates are competitive and may vary based on the amount borrowed and the loan term.
- Specific details on the repayment period and interest rates can be discussed with a loan officer, ensuring terms that best fit your business model.
Eligible Expenses:
- Loans can cover a wide range of expenses including land purchase, infrastructure development, equipment acquisition, and livestock purchases.
- Funds can also be used for advancing clean technology and transitioning to more sustainable agricultural practices.
Restrictions on Use of Funds:
- It is important to note that the funds should not be used for non-agricultural purposes or personal expenses.
Fees:
- There may be application or processing fees involved with these loans.
- Detailed information about any additional fees can be obtained from the loan officer.
By discussing your specific needs with a loan officer, you can ensure that the financing aligns with your project requirements and financial situation.
Qualifications
- Business must be located in Nova Scotia.
- Must be involved in the agriculture or agri-food sector.
- Eligible to start a new business or expand an existing one.
- Can apply for purchasing equipment.
- Suitable for consolidating existing debt.
- Can address other cash flow needs through the program.
Description
If you're in the agriculture or agri-food sector in Nova Scotia, there's a financing program designed just for you. This program offers a range of lending products to help your business grow. Whether you need funds to start a new venture, purchase equipment, or manage cash flow, this program has options tailored to your needs.
The benefits are clear: You can access loans to finance land, infrastructure, and even clean technology projects. It's also perfect for expanding your livestock, orchards, or vineyards. If you're into processing or wild blueberry farming, this program supports those too. And if you're looking for joint financing opportunities, they have options with FarmWorks as well.
What's great about this program is its flexibility. No minimum or maximum revenue requirements mean that businesses of all sizes can apply. Plus, it doesn't matter how many employees you have or what your profit structure looks like. This program is about supporting your business's unique needs and helping you achieve your goals.
Program Steps
Contact a Loan Officer
Reach out to a loan officer to discuss your project and financing needs.Prepare Documentation
Gather the necessary documents for your application, including:- Business plan
- Financial statements (last two years)
- Tax returns (last two years)
- Project proposal detailing your financing needs
- Any relevant permits or licenses
Complete the Application Form
Fill out the application form provided by the Nova Scotia Farm Loan Board.Submit Your Application
Send your completed application along with the required documentation to the loan officer.Follow Up
Check in with the loan officer to confirm receipt of your application and to ask any questions.Review Loan Offer
If approved, review the loan offer carefully, including terms and conditions.Accept the Loan
Sign the agreement to accept the loan and receive your funds.