Programme de financement des terres agricoles – jusqu’à 150 acres
Charlottetown, PE, Canada
Prêt pour acheter des terres agricoles dans l’Île-du-Prince-Édouard
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Prêts et investissements
grant_single|eligibleIndustries
- Agriculture, foresterie, pêche et chasse
grant_single|grantors
- Gouvernement de l’Île-du-Prince-Édouard
- Finances Î.-P.-É
grant_single|status
grant_card_status|open
grant_single_labels|preview
Prêt à terme pour financer jusqu’à 100 % de l’achat d’un maximum de 150 acres de terres agricoles à un taux d’intérêt fixe de 6 % sur une période de cinq ans.
grant_single_labels|projects
The grant supports eligible activities associated with farmland financing for the purchase of farmland in Prince Edward Island. It provides two main financing streams depending on the acreage and payment structure.
- Financing for the purchase of up to 150 acres of farmland with a fixed interest rate loan option.
- Financing for the purchase of up to 450 acres of farmland with options for interest-only payments or a fixed interest rate loan.
grant_single|admissibleProjectsExample
$685,000
Vancouver
Achat de 120 acres pour l'agrandissement d'une ferme maraîchère bio
$856,000
Kelowna
Achat de 150 acres pour agrandir un vignoble familial
$574,000
Calgary
Acquisition de 100 acres pour développer une ferme laitière
$456,000
Toronto
Achat de 80 acres pour une initiative d'agriculture soutenue par la communauté
$735,000
Ottawa
Acquisition de 130 acres pour créer une ferme communautaire et centre éducatif
$516,000
Quebec City
Achat de 90 acres pour développer une ferme durable en serre à Québec
grant_single_labels|admissibility
The eligibility criteria for the Farmland Financing grant from Finance PEI include the following:
- Any farmer with an acceptable combination of five years post-secondary education in agriculture and/or work experience in a farming operation.
- For expansion/succession: the farming operation must be a viable business venture with annual sales of at least $15,000 from agricultural commodities, supported by Income Tax Returns.
- For new entrants: cash flow projections must indicate that required annual sales of $15,000 from agricultural commodities will be met and show adequate debt servicing to support the proposed land purchase.
- Possession of a valid Environmental Farm Plan and Soil Conservation Plan for the farmland being purchased.
- The land being financed must be available to be taken as a first charge against the loan.
- The shareholder(s) must provide a personal guarantee.
- Must be a Canadian citizen and a permanent resident of PEI.
grant_eligibility_criteria|who_can_apply
The Farmland Financing grant is specifically designed for farmers who are either starting a new operation or expanding an existing one, with a focus on farmland succession in Prince Edward Island. It targets those in the agricultural industry with experience or educational background in farming.
- New and expanding farming operations
- Farmers involved in farmland succession
grant_eligibility_criteria|who_cannot_apply
Les compagnies appartenant à des industries non-admissibles et celles qui ne respectent pas les critères d'admissibilité ne sont pas éligibles à cette subvention.
- Entreprises non incorporées
- Entreprises publiques
- Entreprises individuelles
- Entreprises sans but lucratif
- Entreprises impliquées dans des activités illégales
grant_eligibility_criteria|eligible_expenses
Les dépenses admissibles pour cette subvention sont :
- Frais de personnel directement liés au projet
- Coûts de matériel spécifique au projet
- Frais de sous-traitance pour des services nécessaires au projet
grant_eligibility_criteria|zone
Companies that are eligible for this grant must be Canadian citizens and permanent residents of Prince Edward Island. The grant is facilitated by Finance PEI, indicating a focus on entities within this province.
- Prince Edward Island, Canada
grant_single_labels|criteria
The evaluation and selection criteria for the Farmland Financing program focus on the applicant's farming experience, business viability, environmental compliance, and financial stability. Applicants must meet specific qualifications related to education, business plan quality, and land appraisal to be considered eligible.
- Acceptable combination of five years post-secondary education in agriculture and/or work experience in a farming operation.
- For expansion/succession: Farming operation must be a viable business venture with annual sales of at least $15,000 from agricultural commodities, supported by Income Tax Returns.
- For new entrants: Cash flow projections to indicate that the required annual sales of $15,000 from agricultural commodities will be met and adequate debt servicing to support the proposed land purchase.
- Must have a valid Environmental Farm Plan and Soil Conservation Plan for the farmland being purchased.
- The land being financed must be available to be taken as a first charge against the loan.
- The shareholder(s) must provide a personal guarantee.
- Must be a Canadian citizen and a permanent resident of PEI.
- Completion and submission of the Application for Financial Assistance, supported by a Business Plan prepared by a qualified Chartered Accountant, including 3 years of cash flow projections and 3 years of historical financial statements (if applicable).
- Appraisal by an Accredited Appraiser.
grant_single_labels|register
Step 1: Complete the Application for Financial Assistance
- Fill out the necessary application form.
- Ensure all required information is provided.
Step 2: Prepare Supporting Documents
- Create a Business Plan by a qualified Chartered Accountant.
- Include 3 years of cash flow projections.
- Include 3 years of historical financial statements, if applicable.
- Obtain an appraisal by an Accredited Appraiser.
Step 3: Submit Application and Documents
- Contact an Account Manager with Finance PEI.
- Submit the completed application and all supporting documents.
Step 4: Interview
- Participate in an interview with the Account Manager.
- Discuss the business proposal and next steps.
grant_single_labels|otherInfo
Additional information that may be beneficial for the grant applicant includes:
- Maintaining a valid Environmental Farm Plan and Soil Conservation Plan is necessary for the farmland.
- The farmland must be available to be taken as a first charge against the loan.
- Shareholders are required to provide a Personal Guarantee.
- Applicants must be Canadian citizens and permanent residents of PEI.
- A Business Plan prepared by a qualified Chartered Accountant is required, with cash flow projections and, if applicable, historical financial statements.
- An appraisal by an accredited appraiser is needed.
- The government has established a $10 million investment portfolio for this support.
- For further details or questions, contact Finance PEI staff.
grant_single_labels|contact
902-368-6200
S’inscrire à ce programme
PEI Farmland Financing Program Overview
The Prince Edward Island (PEI) Farmland Financing Program aims to assist eligible farmers in acquiring farmland by providing favorable loan terms. The program supports both new and expanding farming operations on PEI, ensuring long-term agricultural development and sustainability.
Comprehensive Guide to the PEI Farmland Financing Program
For farmers in Prince Edward Island, the PEI Farmland Financing Program offers a valuable opportunity to expand or initiate their agricultural operations with financial assistance under attractive terms. This initiative by Finance PEI is designed to empower farmers by providing access to capital necessary for acquiring up to 450 acres of farmland. With a total investment portfolio of $10 million, the program is a strategic effort to bolster the province's agricultural sector, fostering sustainability and growth. The program features two primary financing streams, tailored to accommodate the diverse needs of farmers in various stages of operation. The first option provides a term loan financing up to 90-100% of the purchase price for a maximum of 150 acres, with a fixed interest rate of 6% over a five-year term, including blended principal and interest payments. This stream is ideal for farmers seeking a predictable and manageable repayment structure. Alternatively, the second stream targets larger acquisitions, offering a term loan to finance up to 80% of the purchase price of up to 450 acres. Borrowers can choose between making interest-only payments for the initial five years or opting for a 6% fixed interest rate with blended repayments for the same period. This option is particularly beneficial for farmers planning extensive expansions, as it allows more flexibility in managing cash flow. Eligibility for the program requires farmers to demonstrate either educational qualifications or extensive work experience in agriculture, ensuring that recipients have the capability to manage and maximize the potential of the financed farmland effectively. Whether a new entrant or engaging in succession or expansion, the applicant must establish the viability of their farming enterprise, with expected or demonstrated annual sales of at least $15,000 from agricultural commodities. Applicants are also required to present a comprehensive business plan, showcasing strategic foresight and financial responsibility. This plan must include three years of cash flow projections and, where applicable, historical financial statements. Additionally, an appraisal by an accredited appraiser is necessary, ensuring that the loan amount is commensurate with the land's market value. The PEI Farmland Financing Program also emphasizes environmental responsibility, mandating a valid Environmental Farm Plan and Soil Conservation Plan for the purchased farmland. Moreover, the land must be viable as a collateral asset, available for a first charge against the loan, ensuring that the lending risk is minimized. Personal guarantees from shareholders are a part of the security features, reflecting the program's intent to ensure serious commitment from the applicants. Furthermore, the program is exclusively available to Canadian citizens who are permanent residents of PEI, emphasizing the region's dedication to fostering local agricultural growth. For farmers aspiring to tap into this opportunity, the application process involves a detailed proposal submission, reviewed and discussed with an Account Manager from Finance PEI. This engagement is not just a formality but a collaborative effort to refine the business proposition, ensuring it aligns with both the farmer's vision and the program's objectives for sustainable agriculture in PEI. In essence, the PEI Farmland Financing Program is more than just a financial support tool; it is a cornerstone initiative for developing resilient agricultural businesses. By easing the capital burden of land acquisition, it allows farmers to focus on optimizing productivity and contributing positively to the local food supply chain. Whether stepping into farming for the first time or scaling an existing operation, this program provides the financial leverage needed to make substantial strides in PEI's agricultural landscape. As farmers explore this opportunity, they are not just investing in their future but also in the enduring agricultural legacy of Prince Edward Island.