Plant Your Roots Program — Commercial Farm Purchases
NS, Canada
Funding for new commercial farming in Nova Scotia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|closingDateFebruary 15, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Nova Scotia
- Department of Agriculture
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Gain access to financial assistance to support new ownership of commercial farms by improving your financial stability during your first years of operation.
grant_single_labels|terms_and_conditions
The Plant Your Roots Program offers a structured interest rebate to enhance financial stability for new farm owners in Nova Scotia. The modalities aim to provide effective interest support based on projected loan interest over a four-year period.
- The interest rebate is calculated on the projected loan interest over four years, limited to a maximum of $100,000.
- Eligible loans must include a fixed interest rate and be for new commercial farm purchases or investments in relevant farming technologies.
- Applications must be filed within six months of loan approval to qualify for the rebate.
- Qualifying loans cannot include variable interest rate loans, refinancing of existing loans, operating lines of credit, or residential mortgages.
- The funding is contingent upon meeting specific revenue targets by March 2028, with provisions for repayment if targets are not met or if the farm assets are sold within five years.
grant_single_labels|projects
The Plant Your Roots Program in Nova Scotia focuses on initiatives that encourage new ownership of commercial farms by providing financial stability during the initial years of operation. The eligible projects aim to support farm business establishment and commercial farm purchases with specific uses for loan funding.
- Purchasing an existing commercial farm with 100% ownership.
- Acquiring a minimum of 25% interest in a commercial farm.
- Investing in innovative technologies focused on labor efficiencies.
- Implementing technologies that support local food production.
- Making commercial farm purchases.
- Investing in properties to create active farm locations or reactivate viable farmland.
grant_single|admissibleProjectsExample
$ 80,000
Purchase of high-efficiency tractor for sustainable farming practices
$ 50,000
Upgrade irrigation system for increased crop yield and efficiency
$ 70,000
Implement solar energy system to reduce farm operating costs
$ 60,000
Expand greenhouse facilities to increase vegetable production
$ 30,000
Hire agricultural consultant for improving farm yield and sustainability
$ 40,000
Introduce new crop varieties and upgrade soil health management
grant_single_labels|admissibility
Eligibility for the Plant Your Roots grant requires applicants to meet specific criteria related to farm registration and operations.
- The applicant must be a farm or Mi'kmaq conducting farming activities in a Mi'kmaw community.
- The applicant must be currently and properly registered under the correct income category of the Farm Registration Act.
- The applicant must be at least 19 years old and actively farming in the program year.
- The applicant must be establishing a farm business with the aim of reaching a commercial scale within 5 years, or be purchasing a commercial farm (or at least 25% interest) in Nova Scotia for the first time.
grant_eligibility_criteria|who_can_apply
The Plant Your Roots program is open to farms and Mi'kmaq conducting farming activities in a Mi'kmaw community in Nova Scotia. To apply, farms must be appropriately registered under the Farm Registration Act and be operated by individuals who are at least 19 years old. Additionally, applicants must be actively farming in the program year and aiming to reach commercial scale operations within five years or must be purchasing a commercial farm or at least a 25% interest in one for the first time.
grant_eligibility_criteria|who_cannot_apply
The Plant Your Roots Program specifies certain eligibility criteria related to applicants' registration and activities, which implies exclusions for those not meeting these requirements. Below are the types of entities or restrictions inferred from the program guidelines.
- Farms or entities not registered under the Farm Registration Act in the correct income category.
- Individuals or entities under 19 years of age.
- Applicants who are not actively farming in Nova Scotia within the program year.
- Entities intending to refinance existing loans or use variable interest rate loans.
- Applicants who have previously received benefits under the FarmNEXT Programs.
- Applicants operating a substantial part of their business on shared or coordinated properties and resources with other applicants.
grant_eligibility_criteria|eligible_expenses
The Plant Your Roots Program provides financial assistance to new farmers in Nova Scotia to establish and scale their farm businesses. The grant focuses on supporting loan interest for projects that enhance farm operations through new purchases and innovative technology investments.
- Purchasing new commercial farms or buying at least a 25% interest in an existing commercial farm.
- Investing in innovative technologies that improve labor efficiencies on farms.
- Purchasing technologies that bolster local food production capabilities.
- Investing in properties aimed at creating active farm locations or reviving viable farmland.
grant_eligibility_criteria|zone
This grant is available to companies and individuals located within the province of Nova Scotia, with a particular focus on encouraging farming activities in Mi'kmaw communities and the development of commercial farms across the region.
- Farms or individuals actively farming within the Mi'kmaw communities of Nova Scotia.
- Entities registered in the province of Nova Scotia, Canada.
grant_single_labels|criteria
There are evaluation and selection criteria for the Plant Your Roots Program. The criteria include:
- Proper registration under the Farm Registration Act
- Active farming in the program year
- Establishing a farm business with commercial scale goals within 5 years
- Purchasing at least 25% interest in a commercial farm in Nova Scotia for the first time
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Check Eligibility
- Ensure you meet the criteria for either Stream 1 or Stream 2.
- Confirm registration under the Farm Registration Act in the correct income category.
- Must be at least 19 years old and a resident of Nova Scotia actively farming in the program year.
- Step 2: Prepare Required Documents
- Obtain a copy of the loan agreement covering all loan details, including amount, amortization, and fixed interest rate.
- Prepare Statement of Farming Activities (T2042, T1273) or Schedule 125 to report farm revenue if applicable.
- Provide personal T1 General pages 1 & 2 if not reporting farm revenue.
- Step 3: Complete Application Form
- Fill out the application form ensuring all information is complete and accurate.
- New programs clients since 2023 must complete a Program Funding Registration form.
- Update any changes if you are a returning client.
- Step 4: Submit Application
- Submit the completed application within 6 months of loan approval and by February 15, 2025.
- Step 5: Await Approval
- Applications will be reviewed by NSDA as they are received.
- If approved, receive a Letter of Agreement and Repayment Agreement.
- Step 6: Finalize Agreement
- Review, sign, and return the LOA and Repayment Agreement within 30 days of issuance.
- Failure to return within the period will result in forfeiture of program funding.
- Step 7: Contact for Assistance
- Reach out to Programs for any queries or clarifications needed during the process via phone, email, or regional offices.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The program welcomes individuals from diverse and inclusive sectors, particularly encouraging applicants from equity-deserving communities such as women, persons with disabilities, Black and African Nova Scotians, First Nations, Indigenous peoples, 2SLGBTQI+, and racialized individuals.
- The interest rebate is calculated based on a four-year projection of eligible loan interest, capped at $100,000.
- The approval process includes receiving a Letter of Agreement (LOA) and a Repayment Agreement which must be signed and returned within 30 days.
- If an applicant’s project does not meet the required income threshold by March 2028, they will be required to repay part of the funds.
- Funding is not available for variable interest rate loans, refinancing of existing loans, operating lines of credit, or residential mortgages.
- Applicants need to submit applications within 6 months of loan approval and provide specific documentation, including a copy of the loan agreement.
- The confidentiality of applicants’ data will be maintained, with specific information release as determined by program guidelines.
- The program requirements also include participation in evaluations or audits if selected by NSDA or the Government of Canada.
grant_single_labels|contact
prm@novascotia.ca
902-893-6377
