EFO accepting 2014 New Entrant Quota Loan Pool Applications
By Kristy Nudds
April 4, 2014 – Egg Farmers of Ontario (EFO) is once again giving individuals an opportunity to become Ontario’s newest egg farmer by applying to the 2014 New Entrant Quota Loan Pool (NEQLP). Applications will be accepted from April 1, 2014 until May 30, 2014.
The NEQLP is designed to encourage new farmers into the Ontario egg farming business. Each year, up to 10,000 units of quota will be loaned to the successful applicant(s). The quota will be loaned based on a 1:2 ratio (1 unit purchased, 2 loaned). After 10 years, the loaned quota will be returned to EFO in 10 annual installments (10% each) and will be loaned to future participants in the program.
To be eligible for EFO’s 2014 New Entrant Quota Loan Pool, an applicant must:
- Be a Canadian citizen or landed immigrant;
- Be a permanent resident of Ontario;
- Not have held quota, currently or in the past, of any type in the supply-managed sector (egg, pullet, chicken, turkey, dairy or hatching eggs);
- Successful applicants will be required to purchase to match the quota loan, based on a 1:2 ratio;
- Priority will be given to persons between the ages of 18 and 45.
Applicants who meet the above criteria will be reviewed by a selection committee comprised of well-respected and knowledgeable industry representatives and EFO will act as a resource for the committee. Committee members are selected by EFO and may include:
- An accountant;
- A financial representative;
- An OMAFRA staff person;
- A non-director egg farmer and
- A representative from Junior Farmers Association of Ontario
To apply, interested individuals must complete and submit an application form (available through EFO or at www.eggfarmersofontario.ca/news-events). Successful applicants must complete and file with EFO all documentation required of a buyer as set out in the Quota Transfer System (QTS), EFO Policies, Programs and Procedures as may be amended from time to time. Applications will be accepted from April 1, 2014 to May 30, 2014.