Agriculture Loan and Loan Guarantees

Financing to buy or develop New Brunswick farmland

The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides repayable loans and loan guarantees to promote development of the agriculture sector as a complementary lender. Clients interested in a DAAF loan or loan guarantee must first seek financing from a private lender. DAAF s loan program may then be available to help fill the gap between the assistance required and what the client has been approved for privately. DAAF will work with other lenders to facilitate succession and new development of viable projects. New entrants, defined as someone who has owned a farm for five years or less, may be eligible for lower interest rates and equity requirements.

1. Seek financing from a private lender and obtain a formal decision letter outlining the financing they will provide and any shortfall 2. Develop a detailed business plan including a description of your business, financial projections, marketing, and management plans 3. Complete the application form provided by the Department of Agriculture, Aquaculture and Fisheries (DAAF) and attach the detailed business plan along with other necessary documents 4. Provide evidence of minimum 10% equity contribution, or 5% for new entrants, into the project 5. Submit the completed application form and all supporting documents to DAAF and double-check the submission for completion and accuracy 6. Receive confirmation from DAAF regarding the receipt of your application and be prepared to discuss your application further with DAAF representatives if needed