5:58 pm - Wednesday, May 22 2019
Home / News / Changes to FarmNEXT to Help Next Generation of Farmers

Changes to FarmNEXT to Help Next Generation of Farmers

More farmers will have access to an important interest relief program as a result of changes made today, July 14.

Agriculture Minister Keith Colwell announced changes that will expand the eligibility criteria and how the FarmNEXT program provides assistance.

“By expanding the eligibility criteria for the program, we are making it easier for new farmers to get up and running,” said Mr.

Colwell. “Agriculture is important to the future of our province, and we want to make sure that we create an environment where anyone who is serious about commercial farming has the support they need to succeed.”

The two changes that have been made to expand eligibility are:
— more than one child in a family may apply provided each child operates his/her own farm entity as a separate and unique business
— new farmers may be eligible when they purchase farmland

As part of the changes being made, the approvals for FarmNEXT applications will move from the Nova Scotia Farm Loan Board to the Programs and Business Risk Management division of the department of Agriculture to separate lending from grant approvals.

The FarmNEXT program supports beginning farmers by reducing borrowing costs. Under the program, up to $30,000 in benefits is assigned to interest on a farmer’s loan from the Nova Scotia Farm Loan Board.

The program will make available $574,000 to applicants in 2015-16.

FarmNEXT clients also receive coaching in business planning and ongoing farm financial management advice from planning and development officers at the department.

For more information about submitting an application, visit http://www.novascotia.ca/farmloan .

Source: Release

About Haligonia.ca

See news happening near you? Tell us. Click here to email our team.


The views and opinions expressed in this content are those of the author and do not necessarily reflect those of haligonia.ca.

You might also like...


Nova Scotia Sending Wildfire Crew to Alberta

**** NS Government Media Release Nova Scotia has answered the call to help fight wildfires...


Police are seeking the public’s assistance in locating a missing 21-year-old Halifax woman.

**** HRP Media Release Police are seeking the public’s assistance in locating a missing 21-year-old...

Leave a Reply

Your email address will not be published. Required fields are marked *