LoanLoan GuaranteeNew BrunswickWorking Capital

Industry Development Programs: Livestock Incentive Loan Program

The Livestock Incentive Loan Program provides loans to financial institutions for New Brunswick farmers purchasing and raising livestock. It also provides guarantees to financial institutions for approved livestock purchases.

Offered by Department of Agriculture, Aquaculture and Fisheries

Amount

Up to $75,000

Loan guarantees on livestock loans of up to $75,000; guarantees up to 90% of the loan, at the lender's prime rate + 1%

Quick eligibility check

Years in business
No minimum stated
Employees
No limit stated
Revenue
No limit stated
Legal structure
Incorporated, sole proprietor, partnership, co-operative
Location
New Brunswick

Who can apply

The applicant must:

  1. be a full-time or a part-time New Brunswick farmer organized as a sole proprietorship, a partnership, an incorporated company or to be incorporated, or a cooperative,
  2. have acceptable agricultural knowledge and business skills, and an acceptable credit history,
  3. invest at least 10% equity in the project,
  4. provide acceptable security for the proposed financing,
  5. have a business plan that shows reasonable chances of viability and that demonstrates that a demand exists for the product(s),
  6. work on a project that fits with the province’s sector strategies (in terms of impact on agricultural land, jobs, export sales, markets, etc.).

About the funding

Funding takes the form of loans of up to $75,000.

The program guarantees up to 90% of loan, at lenders’ prime interest rate + 1%. The term of the guarantee will be up to 18 months for the purchase of feeder livestock and up to 7 years for the purchase of breeding livestock.

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