Loan GuaranteeNew BrunswickBusiness Acquisition or MergerEquipment Purchase or UpgradesStart a BusinessWorking Capital
Industry Development Programs: Agriculture Loan Guarantees
The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides loan guarantees to promote development of the agriculture sector as a complementary lender. Clients interested in a DAAF loan guarantee must first seek financing from a private lender.
Offered by Department of Agriculture, Aquaculture and Fisheries
Amount
no fixed amount
Quick eligibility check
Years in business
No minimum
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:
- be a sole proprietorship, a partnership, an incorporated company or to be incorporated, a cooperative from New Brunswick, or a new entrant (defined as someone who has owned a farm for five years or less), 2. have first seeked financing from a private lender, 3. use the financing for: a) purchasing an existing farm,
b) starting a new farm,
c) purchasing shares in a farming operation,
d) purchasing land for farming,
e) developing land for farming,
f) working capital requirements,
- invest, or have invested, a minimum 10% (new entrants 5%) equity into the project, 5. provide acceptable security for the proposed financing,
- have a business plan.
About the funding
There is a loan guarantee fee of 1.5 % of the amount guaranteed, paid at the beginning of each year.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| EDC Direct lending | Loan, Loan Guarantee | Direct loans that typically start at $1 million, structured to match your business needs, priced in line with commercial market rates | Open |
| Aquaculture Loans and Loan Guarantees | Loan, Loan Guarantee | no fixed amount | Open |
| Fisheries Loan Guarantees | Loan Guarantee | no fixed amount | Open |
| Canada Small Business Financing Program (CSBFP) | Loan, Loan Guarantee | Maximum loan amount of $1.15 million per borrower: up to $1,000,000 for term loans (no more than $500,000 for leasehold improvements and equipment, of which a maximum of $150,000 for intangible assets and working capital costs) and up to $150,000 for lines of credit | Open |
