Crown lease as Security is a new program offered to eligible agricultural Crown lessees. Agricultural lessees can now use their Crown lease to obtain a loan. The terms and conditions of the loan will be determined by the lending institution and the lessee.
Note: Applications will not be processed until after April 1, 2019.
Who can apply
Agricultural Crown lessees must:
- Have all of their accounts with the Ministry of Agriculture Lands branch in acceptable status;
- Not have any contraventions of the terms and conditions of their lease (excluding rent or tax arrears) on file for the last 10 years or for the duration of their lease if they have had it for less than 10 years;
- Not have an agricultural Crown lease subject to the rental premium under section 3-8 of The Provincial Lands (Agriculture) Regulations; and
- Use their entire lease as security.
Lending institutions must:
- Be an eligible lending institution, including: chartered banks also known as commercial banks, credit unions, Crown corporations, trust companies, financial services companies and any other person approved by the minister.
- Sign a memorandum of agreement between the head office of the lending institution and the Ministry of Agriculture.
When you can apply
- Lessees can apply to use their Crown lease as security at any time.
- New lessees can apply at time of signing their Crown lease.
- Complete the Application to Use Crown Lease as Security and submit to your local Regional Office.