Proactive Disclosure

Disclosure of new Loans in excess of $1,000,000

In the interests of balancing Government’s obligation of openness and transparency, with the need to protect the privacy and sensitive information of Finance PEI and Island Investment Development Inc.’s borrowing clients, the Government of Prince Edward Island has adopted a policy to proactively disclose certain prescribed information relating to new loan authorizations where:

  • The Loan, including guarantees provided on behalf of that Borrower or affiliate, exceeds $1,000,000; or
  • The cumulative exposure of the Borrower to Finance PEI or Island Investment Development Inc., resulting from the new Loan, exceeds $1,000,000.

Beginning on May 15, 2018, this website will be updated on an ongoing basis to disclose new loan authorizations by Finance PEI or Island Investment Development Inc. that meet this criteria. Information beyond that provided herein continues to be subject to the Freedom of Information and Protection of Privacy Act.

New Loan Authorizations in excess of $1,000,000
Date Borrower Lender Authorized Amount of Loan Interest Rate Purpose of Loan
June 11, 2019 Charlottetown Metal Products Limited
2744 North York River Road- Rte 248
Milton Station, PE C1E 1Z4
Prince Edward Island Century 2000 Fund Inc.  $550,739 Fixed, 5.25%, 5-year term Renewal
April 17, 2019

Gorrill Produce Limited
PO Box 374
O'Leary, PE C0B 1V0

Finance PEI $3,532,000 Fixed, 5.3%, 5-year term Refinance
April 17, 2019 Gorrill Produce Limited
PO Box 374
O'Leary, PE C0B 1V0
Finance PEI $2,000,000 Variable, TD Prime + 2.75%, 1-year term Renewal
March 26, 2019 New Leaf Essentials (East) Ltd.
4 Slemon Park Drive
Slemon Park, C0B 2A0
Prince Edward Island Century 2000 Fund Inc
$4,000,000 Fixed, 4%, 5-year term Refinance
March 25, 2019 Prebilt Structures Ltd.  Prince Edward Island Century 2000 Fund Inc. $750,000 Fixed, 5.5%, 5-year term Operating/Working Capital loans
March 12, 2019 Somru Bioscience Inc.
19 Innovation Way
Charlottetown, PE C1E 0B7
Prince Edward Island Century 2000 Fund Inc $2,000,000 Fixed, 4%, 5-year term Purchase/Improvement of Capital Assets
March 12, 2019 Pan American Properties Inc.
21 John Yeo Drive Unit 2
Charlottetown, PE C1E 3J3

Prince Edward Island Century 2000 Fund Inc.

$898,918 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
March 12, 2019 Pan American Properties Inc.
21 John Yeo Drive Unit 2
Charlottetown, PE C1E 3J3
Prince Edward Island Century 2000 Fund Inc. $898,918 Fixed, 4%, 5-year term Purchase/Improvement of Capital Assets
March 12, 2019 Canadian Mental Health Association - Prince Edward Island Division
178 Fitzroy Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $2,125,000 Fixed, 4%, 5-year term Purchase of Capital Asset
March 5, 2019 Master Packaging Inc.
23784 Trans-Canada Highway
Borden-Carleton, PE
Prince Edward Island Century 2000 Fund Inc. $4,500,000 Fixed, 4%, 5-year term Purchase/Improvement of Capital Assets
February 12, 2019 Prince Edward Island Brewing Company Ltd.
96 Kensington Road
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $746,366 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
January 30, 2019 Slemon Park Corporation
30A Aerospace Boulevard
Slemon Park, PE
Island Investment Development Inc. $995,000 Fixed, 3%, 2-year term Purchase / Improvement of Capital Assets
January 15, 2019 Atlantic Bioheat Inc.
2051 Cannontown Road
Wellington, PE
Finance PEI $5,800,000 Fixed, 5.9%, 5-year term Purchase / Improvement of Capital Assets
January 9, 2019 102282 P.E.I. Inc. 
7542 Rte 13
Cavendish, PE C0A 1N0
Finance PEI $1,040,000 Fixed, 5.75%, 5-year term Purchase/Improvement of Capital Assets
January 8, 2019 A & S Scrap Metals Ltd.
8 Day Avenue
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $3,000,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
January 8, 2019 Trout River Industries Inc.
32 Trout River Road
Coleman, PE
Prince Edward Island Century 2000 Fund Inc. $3,000,000 Floating Rate equal to TD Prime + 1.25%, 5-year term Renewal
December 19, 2018 IO Solutions Call Centre Inc.
51 Griffin Drive
Alberton, PE C0B 1B0
Prince Edward Island Century 2000 Fund Inc. $2,000,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
December 4, 2018 Allan Equipment Manufacturing Ltd.
315 W Covehead Road
York, PE
Prince Edward Island Century 2000 Fund Inc. $2,290,360 Fixed, 5.59%, 5-year term Renewal
October 31, 2018 Slemon Park Corporation
30A Aerospace Boulevard
Slemon Park, PE
Island Investment Development Inc. $687,500 Fixed, 3%, 10-year term Purchase / Improvement of Capital Assets
October 31, 2018 100879 PEI Inc
223 Queen Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $1,800,000 Fixed, 4%, 5-year term Refinance
October 24, 2018 Meyer Housewares Canada Inc.
9 Fair Isle Lane
Brackley, PE
Prince Edward Island Century 2000 Fund Inc. $2,200,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
October 19, 2018 M & M Resources Inc.
311 Village Green Road
Village Green, PE
Finance PEI $300,000 Fixed, 5.1%, 5-year term Purchase / Improvement of Capital Assets
October 17, 2018 The College of Piping and Celtic Performing Arts of Canada Inc
619 Water Street
Summerside, PE
Prince Edward Island Century 2000 Fund Inc. $1,000,000 Fixed, 4%, 5-year term Construction Costs
October 9, 2018 Slemon Park Corporation
30A Aerospace Boulevard
Slemon Park, PE
Island Investment Development Inc. $5,408,000 Fixed, 2.95%, 5-year term Refinance
October 2, 2018 102253 P.E.I. Inc.
16 McCarville Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $4,000,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
August 22, 2018 PEI Grain Elevators Corporation
62 Victoria Street
Kensington, PE
Finance PEI $9,200,000 Fixed, 3%, 10-year term Purchase / Improvement of Capital Assets
August 10, 2018 Royalty Plaza Business Centre Inc.
21 John Yeo Drive
Charlottetown, PE
Finance PEI $2,291,000 Fixed, 5.5%, 5-year term Purchase / Improvement of Capital Assets
June 26, 2018 Aqua Bounty Canada, Inc.
718 Fortune Bay Road
Souris, PE
Prince Edward Island Century 2000 Fund Inc. $2,700,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
June 20, 2018 Charlottetown Metal Products
2744 North York River Road
Milton Station, PE
Prince Edward Island Century 2000 Fund Inc. $150,000 Fixed, 4%, 5-year term Purchase / Improvement of Capital Assets
June 19, 2018 Slemon Park Corporation
30A Aerospace Boulevard
Slemon Park, PE
Island Investment Development Inc. $750,000 Fixed, 3%, 10-year term Purchase / Improvement of Capital Assets
June 19, 2018 River Resorts Ltd.
149 Kent Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $1,120,000 Fixed, 4%, 5-year term Refinance
June 19, 2018 River Resorts Ltd.
149 Kent Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $9,700,000 Fixed, 4%, 5-year term Refinance
June 19, 2018 Rodd Investments Ltd.
149 Kent Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $9,000,000 Fixed, 4%, 5-year term Renewal
June 19, 2018 Rodd Management Limited
149 Kent Street
Charlottetown, PE
Prince Edward Island Century 2000 Fund Inc. $2,250,000 Fixed, 4%, 5-year term Renewal

Glossary of Terms

Term of Loan - this is the length of time the borrower commits to the interest rate and other specific terms of the loan. The repayment period of the loan may be longer than the term of the loan.


Renewal of Loan - when the term of a loan expires, and the repayment period was longer than the initial term of the loan, the borrower may seek to renew the remaining balance for an additional term with the existing lender. This renewal process will require the borrower to provide current financial and other supporting information before the lender offers a renewal term.


Refinancing - is the replacement of an existing debt obligation with a new loan under different terms, either with the existing lender or an entirely new one. The applicant will provide current financial and other supporting information to secure this financing.


Operating / Working Capital Loans - are used to finance the everyday operations of a business such as marketing, product development, wages and other activities.

The short-term financing provided by working capital loans helps companies bridge financial gaps—typically the time between the payment of accounts payable and collection of accounts receivable.


Capital Loans - are typically used to acquire, upgrade, and maintain physical assets, such as property, industrial buildings, or equipment, which are related to a company’s business. The repayment period of a capital loan is usually based on the remaining useful life of the asset being financed.

Published date: 
May 31, 2018
Finance PEI

General Inquiries

Finance PEI
2nd Floor, 94 Euston Street
Charlottetown, PE C1A 1R7

Phone: 902-368-6300
Fax: 902-368-6255

financepei@gov.pe.ca