“The biggest difference between the
Nova Scotia Farm Loan Board
and other lenders is the products they offer are better suited
to agriculture - they understand agriculture.”
- Michael Lightfoot, Kings County, NS

“They get to know you and your business;
see it first hand and understand your challenges.”
- Ian Tuttle/Ruth Tuttle, Cumberland County, NS

“The Nova Scotia Farm Loan Board
knows farming.”
- George deVries, Colchester, NS

“I feel safe with the
Nova Scotia Farm Loan Board,
unlike a commercial bank.”
- George deVries, Colchester, NS

“Farms have high and low points
and the lender has to be there through everything.
The Nova Scotia Farm Loan Board
is like a partner in the farm.”
- George deVries, Colchester, NS

“The Nova Scotia Farm Loan Board
has given me the tools I need to be successful.”
- Luke denHaan, Annapolis Valley, NS

Nova Scotia Farm Loan Board

Lending Products

We can help improve the viability of farm operations in Nova Scotia.

Jump Start Program

Jump Start program is designed for beginning commercial farmers. In combination with the Provincial FarmNext plan this program can give a new farmer a real boost to get his or her farm career off to a great start. The Jump Start program combines some of the best components of the NSFLB's other credit products.

The "Jump Start" provides both the classic Farm mortgage for the purchase of real estate and the Deferral Options packages that may be needed to support any operating requirements.

The chief characteristic of the Jump Start program is flexibility. This is demonstrated in the payment timing; amortization; fixed term period; interest rates; and potential deferments. This flexibility can be packaged specifically to meet the needs of the commodity and operational requirements of the individual farm.

The FarmNext program may provide a grant of up to $30,000 depending on the transition type and other certain qualification criteria. The grant is applied directly to the principal of the mortgage to provide the client with instant equity in their new farm operation. The spirit of FarmNext is to encourage new commercial level farming operations to develop or to allow and promote succession on existing commercial operations. The dollar value of the program is tied to the interest rate payment on the loan: 4 years worth of interest for both the start up and succession categories.

Security

Loan to Value not to exceed 90%.

The Jump Start is typically secured by real property, livestock, quota, equipment and applicable guarantees.

The security may take the form of a collateral mortgage; or a continuing collateral mortgage, or existing Agreement of Sale, at the choice of the client. Chattel items are normally secured with a General Security Agreement (GSA). There may be certain benefits provided by the security instrument selected for future borrowing.


Making Payments

Payments may be made by cash, cheque, or electronic funds transfer, in person or by delivery to our offices in Truro or Kentville.

If you wish to be set up for Electronic Funds Transfer (Pre-authorized Debit) complete the Payment Authorization form, attach a void cheque, and deliver or fax it to us. Our fax number is 902-895-7693.


Other Products

  • Life Insurance

    Life Insurance is available to most clients and is a requirement of your loan. Life insurance may be obtained through the Board's Creditor Group Life Insurance policy with Sun Life Assurance, or privately.

  • Fixed Farm Mortgage

    Fixed rate interest for the full amortization period, from 1-30 years.

  • Term Farm Mortgage

    Term rate financing for 3-5-10 Term Options with 1-30 year amortizations.

  • The Quota Loan

    The Quota Loan is for buying milk quota, egg quota, broiler quota, and turkey quota. Clients know that to grow production and keep a farm moving into the future, it takes a big roll of cash.

  • The Farm Debt Consolidator

    The Farm Debt Consolidator is used as a cleanup tool for short-term payables, stagnant operating debt, medium term loans, and restructuring of long-term debt with other lenders.

  • Deferred Product Options

    A deferred loan structure has been developed for general cash flow situations that require a principal deferment to help a farm manage its cash situation.

  • The “Jump Start” Program

    Jump Start program is designed for new entrant farmers. In combination with the Provincial FarmNext plan this program can give a new farmer a real boost to get his or her farm life off to a great start.

  • “Fast Tracktor” - Equipment Financing

    The Fast Tracktor loan authorization is an equipment purchasing line of credit. The loan option provides a preapproved equipment line of credit for clients requiring new or used equipment to sustain their operation.

Nova Scotia Farm Loan Board
Nova Scotia Farm Loan Board
Truro - Head Office

74 Research Drive
Bible Hill, NS B6L 2R2

Tel: 902-893-6506
Fax: 902-895-7693

Kentville - Field Office

Kentville Agricultural Centre
32 Main Street
Kentville, Nova Scotia, B4N 1J5

Tel: 902-679-6009
Fax: 902-679-4997