Farmland Financing Program — Up to 150 Acres

Term loan from Finance PEI to finance up to 100% of the purchase price of a maximum of 150 acres of farmland, with either interest-only payments for five years at the prevailing rate, or a fixed 6% interest rate over a five-year term with blended principal and interest payments. Financing applies to farmland only; woodland, barns, other structures and equipment are excluded.

• Must be a farmer with an acceptable combination of five years post-secondary education in agriculture and/or farming work experience
• have a viable business venture with annual sales of at least $15,000
• hold a valid Environmental Farm Plan and Soil Conservation Plan for the farmland being purchased
• shareholder(s) must provide a personal guarantee
• must be a Canadian citizen and permanent resident of PEI.