Farmland Financing

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The Farmland Financing is available to eligible farmers; new and expanding or those involved in farmland succession within PEI.
Finance PEI will provide two financing streams of which a farmer is eligible to apply under only one.

  • Term loan to finance up to 90% - 100% of the purchase price of a maximum of 150 acres of farmland, at a fixed interest rate of 6% over a five-year term, with blended principal and interest payments; or
  • Term loan to finance up to 80% of the purchase price of a maximum of 450 acres of farmland, with either:
    1. interest-only payments for a five-year period at the prevailing interest rate, or
    2. a fixed interest rate of 6%, over a five-year term, with blended principal and interest payments

*Financing is eligible on farmland only; woodland, barns or other structures or equipment are excluded.
*Finance PEI has established a $10 million investment portfolio for this support.

Do I qualify?

  • Any farmer that has an acceptable combination of five years post-secondary education in agriculture and/or work experience in a farming operation
    • Expansion/Succession - the farming operation must be a viable business venture with annual sales of at least $15,000 from agricultural commodities, supported by Income Tax Returns
    • New Entrant - cash flow projections to indicate the following: i) required annual sales of $15,000 from agricultural commodities will be met, ii) adequate debt servicing to support the proposed land purchase
  • You must have a valid Environmental Farm Plan and Soil Conservation Plan for the farmland being purchased.
  • The land being financed must be available to be taken as a first charge against the loan.
  • The Shareholder(s) must provide a Personal Guarantee
  • You must be a Canadian citizen and a permanent resident of PEI

How do I apply?

  • Complete the Application for Financial Assistance. Application to be supported by:
    • Business Plan, prepared by a qualified Chartered Accountant, acceptable to Finance PEI. To include 3 years of cash flow projections and 3 years of historical financial statements (if applicable);
    • Appraisal by an Accredited Appraiser
  • Submit the completed application and all requirements to an Account Manager with Finance PEI. The Account Manager will conduct an interview with you to discuss your business proposal and the next steps to determine eligibility.

For More Information

If you have questions about eligibility requirements or the application process, please contact one of our Finance PEI Staff.

General Contact Information

Email:           Kristin McInnis
                      Kelly MacDonald

Address:      Finance PEI, Commercial and Resource Lending
                      98 Fitzroy Street, 2nd Floor
                      Charlottetown, Prince Edward Island
                      C1A 1R7 Canada

Telephone:  (902) 368-6200
Facsimile:    (902) 368-6201

Date de publication : 
le 25 Janvier 2024
Finances Î.‑P.‑É.

Renseignements généraux

Commercial and Resource Lending Division
2nd Floor, 98 Fitzroy Street
Charlottetown, PE   C1A 1R7
Phone: 902-368-6200
Fax: 902-368-6201