Business New Brunswick

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Perennial Crop Establishment Loan Program

Purpose/Goal

To provide a financial assistance program to encourage the development of the Perennial Crop Industry in New Brunswick . The Agricultural Development Board (ADB) may advance mortgage loans for the purpose of converting and developing ineffectively utilized land into land used for the production of a perennial crop.

Eligibility:

Any individual who wishes to establish a perennial crop operation in New Brunswick . The ADB shall be satisfied that an applicant has the necessary ability, skill, knowledge, and financial resources to operate the holding in accordance to a mutually agreed management plan.

Activities:

The term of the loan shall be up to eight years as determined by the Board. The rate of interest charged for the term of loan will be the Provincial Lending Rate in effect at the time of loan approval. No payment will be required to be made during the establishment period. Accumulated interest will be capitalized annually. The loan plus interest is fully payable at the end of the loan term.

Applications and Contact:

Regional Agriculture, Fisheries and Aquaculture Offices
Or
Agricultural Development Board
Department of Business New Brunswick
PO Box 6000
Fredericton , NB
E3B 5H1
1 (506) 453-3890