Agriculture Direct Loans
The Agricultural Development Board can provide financial assistance, in the form of loans, to projects that are deemed strategic to provincial agricultural strategies. These loans are designed to complement other sources of lending such as Farm Credit Canada and financial institutions.
Project must be deemed strategic to provincial agricultural strategies;
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.
Direct loans are offered for projects that are considered strategic to the industry, with the objective of complementing other financial lenders.
Direct loans are amortized for up to 20 years, at the provincial interest lending rate.