The Timber Loan Board (TLB) has existed for more than 55 years to provide access to capital for the forest industry and rural business development through flexible lending programs. New regulations mean TLB can provide the province’s forestry sector long-term, stable developmental financing with improved lending terms and expanded eligibility.
Our goal is to provide flexible lending solutions to Nova Scotia’s forestry businesses and assist with the development, innovation and change in our industry, with a focus on continued growth of a sustainable forest sector.
Financing is typically secured by real estate, up to a maximum of 90% of the appraised value. Equipment loans may be secured by real estate, the equipment, or some combination. Amortizations are available from 1-25 years. Repayment is set to match your business with monthly, semi-annual and annual options.
Interest rates are typically set quarterly and can be found here: https://novascotia.ca/farmloan/interestrates/
Applications are processed based on a security appraisal, an assessment of the forestry operation and a review of the completed application form and accompanying documents. Supplementary information may be required based on the situation under review. (i.e. business plan). Clients may complete the application form on their own, or call for a loan officer to assist or review it with them.
If you are new to the industry, further developing your business, or transitioning to a new generation, we have a lending solution that will help you reach your goals.
TLB can access all of the lending products currently available to Farm Loan Board clients and more details on each one can be found here: https://novascotia.ca/farmloan/products/
Fixed rate of interest for the full amortization period of the loan, available from 1—25 years.
Loans are available from 1—25 years with interest rates set at 3, 5 or 10 year terms.
The equipment financing loan authorization is a pre-approved product to streamline the acquisition of new or used equipment.
In addition to restructuring existing long-term debt with other lenders, the Board can assist by providing medium to long-term financing for stagnant operating debt or payables.
Through a streamlined process, the Board can provide “micro” loans for projects and financing needs as small as $3,000.
In combination with other lending products, deferred loan structures are available for operations that require a deferment of principal repayment.
We will be introducing new loan products specific to the forestry industry as we implement our new regulations and hear from industry on more specific lending needs.
The Nova Scotia Farm Loan Board is made up of Nova Scotia citizens who are corporate/community leaders with knowledge and/or experience in agriculture and forestry. Farm Loan Board is responsible for lending under the Timber Loan Board, and we are pleased to have dedicated forestry representation on the Board.