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PEI Lending Agency
Peter Wilson
Chief Executive Officer
Lauraine Simpson
Administrative Assistant
PEI Lending Agency


Homburg Financial Tower
98 Fitzroy Street
2nd Floor
Charlottetown, PE
C1A 1R7
Telephone: (902) 368-6200
Facsimile: (902) 368-6201


The PEI Lending Agency assists new and expanding businesses that exhibit strong growth and export potential while contributing to job and wealth creation. Loans are available to those industries involved in manufacturing and processing, tourism, agriculture, small business, fisheries and aquaculture and information technology . The PEI Lending Agency's mandate also includes financial inter-mediation and in some cases partnering with other private sector lenders. All applications are subject to an application fee representing the greater of $250.00 or 1/2 of one percent of the amount of the loan proposed.

Administration
OUR STAFF
Agriculture
WHAT WE DO
Provides loans to individuals involved in the agricultural industry. Loans are available for the purchase of farm lands and buildings, for the purchase of livestock, farm equipment, storage facilities, construction and/or repairs to barns, land improvements, etc. Operating credit is also available for annual cropping expenses and such loans cover almost all relative expenses for annual cropping and include such items as seed, fertilizer, spray materials, fuels, repairs to machinery, labour, living allowances, utilities, etc. This type of credit is repayable in full on an annual basis.
OUR STAFF
Fisheries and Aquaculture
WHAT WE DO
Provides term loans and operating lines of credit to enterprises involved in the commercial fishery and aquaculture industries. Repayment terms are available suited to the cash flow of the specific enterprise.
OUR STAFF
Small Business & Tourism
WHAT WE DO
This program is designed to meet the special needs of the Island's small business community and entrepreneurs for the following purposes: a) Purchase and/or acquisition of business b) Expansion c) Debt consolidation d) New construction It does not provide working capital for the Small Business sector. The amortization period must coincide with the life of the asset being financed, but in no case, will it exceed twenty (20) years. These loans may be used for the acquisition of machinery, equipment, real property and buildings or other acquisitions of a capital nature. Excluded are vehicles which do not directly contribute to the business's income/sales. In some case, operating capital is available for the Tourism sector for seasonal start up.
OUR STAFF
IT, Manufacturing & Processing
WHAT WE DO
The Agency provides both term financing for fixed asset acquisitions and operating capital to finance the businesses accounts receivable and inventory. Capital loans are typically amortized over the life expectancy of the asset and the company's operational cashflow, with maximum financing generally not exceeding 80% of the purchase price or fair market value of the assets, whichever is the lesser. Up to 100% financing may be provided for inventory purchases and account receivables based primarily on purchase orders and signed contracts/agreements.
OUR STAFF
Programs and Services

This page last updated Thu Jan 31 8:06:19 2013.

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