Applications will be considered from both existing producers and new prospective farmers for a variety of projects including, but not limited to farm acquisitions (i.e. farms as going concerns), land purchases, construction/improvement of buildings and rural agri-businesses development.
Financing is predominantly secured by real estate. Amortization is generally for a fixed term with payments scheduled on a monthly, semi-annual or annual basis. Equipment loans may be secured by real estate or by using equipment as security. Term rates are available to clients who fulfill certain criteria. See details of our current interest rates.
Applications are processed on the basis of a security appraisal, an assessment of the farming program and a review of the completed application form. Supplementary information may be required based on the situation under review. (i.e.: business plans) Preparing an Agri-Business Plan. Clients may complete the application form on their own, or call for a loan officer to assist or review it with them.
Electronic funds transfer is the preferred method of payment. Payments by cash or cheque must be received at our Truro office.
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.