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:
- 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,
- have acceptable agricultural knowledge and business skills, and an acceptable credit history,
- invest at least 10% equity in the project,
- provide acceptable security for the proposed financing,
- have a business plan that shows reasonable chances of viability and that demonstrates that a demand exists for the product(s),
- work on a project that fits with the provinceās 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 lendersā 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.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Aquaculture Loans and Loan Guarantees | Loan, Loan Guarantee | no fixed amount | Open |
| Fisheries Loan Guarantees | Loan Guarantee | no fixed amount | Open |
| Fisheries Loans | Loan | no fixed amount | Open |
| Impact Loan | Loan | Unsecured personal loan between $5,000 and $50,000 in working capital for startups and expansion projects, at a fixed rate of Prime + 2%, interest-free for 1 year from first disbursement | Open |
