What information will I need to prepare prior to making application for a Nova Scotia Farm Loan Board Loan?
The Nova Scotia Farm Loan Board encourages everyone who plans on applying for a farm loan to prepare a business plan of the proposed business outlining the objectives of the business, anticipated development or start up costs, anticipated operating costs and aniticipated revenues. A business plan allows you to create a business operation “on paper” and will allow you to evaluate scenarios without the risk of investing a lot of time and money. Dry run planning reduces the possibility of the venture failing, identifies your proposal’s strengths and weaknesses and develops a plan of action to cope with them. Financial Institutions, business partners and investors will all require that you have a proper business plan to prove that your ideas are viable and that you have adequate knowledge of your chosen area of business. Whether you are starting a new business, buying an existing one or expanding your present operation, a business plan will help you to prepare for the unexpected and help t
