Local Business Receives Farm Loan

ACA Co-Operative Limited, a respected member of the Nova Scotia farming community, will receive a loan of $2 million from the Nova Scotia Farm Loan Board. Ernest Fage, Minister of Agriculture and Fisheries, made the announcement today.

The loan will be repayable with interest over a 14-year term.

"ACA Co-Operative Limited has been in business for nearly 60 years in Nova Scotia," said Mr. Fage. "Their commitment to Nova Scotia agricultural industry has been exemplary and the province is supportive of its continued success and growth."

"The company has both farm operations and processing components, however, this loan has been earmarked to refinance bank debt and provide working capital for farm operation improvements," said Mr. Fage. "ACA is a long-standing member of the Kings County community and has a good repayment record with private and government lending agencies."

The loan demonstrates the province's commitment to supporting economic growth in rural Nova Scotia.

ACA Co-Operative Limited has its main office in Kentville and employs 653 people throughout Kings County, and has an annual payroll of $14 million. It was formed as a marketing co-operative for poultry and eggs in 1943. Since that time, the Co-Operative has grown and now includes seven divisions for eggs, feed, hatchery, poultry, retail farm equipment, and processing.