Finance PEI provides loans to those involved in the agricultural industry. Loans are available to purchase farm lands and buildings, livestock, farm equipment, storage facilities, construction and/or repairs to barns, land improvements and more.
Operating credit is also available for annual cropping expenses. Such loans cover almost all related expenses for annual cropping. These include seed, fertilizer, spray materials, fuels, repairs to machinery, labour, utilities, etc. This type of credit is repayable in full on a yearly basis.
There is an application fee. It is $250 or 0.5 per cent of the amount of the loan proposed, whichever is greater.