Livestock Incentive Loan Program
Agriculture, Aquaculture and Fisheries
Overview
The Department may guarantee loans to financial institutions for farmers purchasing and raising livestock.
Eligibility
Both full-time and part-time farmers may apply.
The business plan must show reasonable chances of viability and must demonstrate that a demand exists for the product(s);
The applicant must have acceptable agricultural knowledge and business skills, and an acceptable credit history;
The project must fit with the province’s sector strategies (in terms of impact on agricultural land, jobs, export sales, markets, etc.);
Acceptable security must be provided for the proposed financing; and
The applicant must invest at least 10% equity in the project.
Description
Provides guarantees to financial institutions for approved livestock purchases;
Loans of up to: $75,000
Guarantees up to 90% of loan, at lenders’ 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.
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