Perennial Crop Establishment Loan Program
The Agricultural Development Board can provide financial assistance, in the form of loans, to persons wishing to establish a perennial crop.
Perennial crop operations in New Brunswick;
The business plan must show reasonable chances of viability and must demonstrate that a demand exists for the product(s);
The applicant must have acceptable agricultural knowledge and business skills, and an acceptable credit history;
The project must fit with the province’s sector strategies (in terms of impact on agricultural land, jobs, export sales, markets, etc.);
Acceptable security must be provided for the proposed financing; and
The applicant must show an acceptable amount of equity in the business.
Finances perennial crops up to 75% of the enhanced value;
Amortized up to 10 years at provincial lending rate; and
No payments during the first 5 years of the loan. Interest is charged and capitalized annually. Interest on the outstanding balance is paid annually starting in year 6. Loan balance paid at end of term.