BNB-Perennial Crop Establishment Loan Program

This document is based on information from the Government of New Brunswick (Services) Web site, February 2008.

The Perennial Crop Establishment Loan Program provides a financial assistance program to encourage the development of the Perennial Crop Industry in New Brunswick. The Agricultural Development Board 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 Criteria

Any individual who wishes to establish a perennial crop operation in New Brunswick. The Agricultural Development Board 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.

Summary

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.

For more information, contact Business New Brunswick at 506-453-3890.

New Brunswick Contact(s):
Business Financial Support
Business New Brunswick
P. O. Box 6000
Fredericton, New Brunswick  E3B 5H1
Telephone: 506-453-3890
Fax: 506-444-4182