Guaranteed loan limit doubled for Alberta cattle feeders' program

Individual and joint membership loans are being increased within Alberta’s Feeder Associations Guarantee program, the provincial government has announced. Producers will now be able to access $2 million versus the previous $1 million limit, under the guaranteed loan program.

Announced changes also allow an increase in the amount member associations can receive in advance, based on the value of their livestock.

“Feeder associations in Alberta are facing challenges in accessing the capital they need. We have the backs of our producers — that’s why we are introducing these amendments,” says Oneil Carlier, Minister of Alberta Agriculture and Forestry. “With this move, we are showing a prime example of our government’s responsiveness to industry and commitment to supporting the evolving needs of rural businesses.”

Other changes added in this announced change include increases to the maximum equity advance for risk-mitigated cattle, from 50 per cent to 75 per cent. This gives members of feeder associations access to more equity to generate more favourable cash flow for their operations, the province says.

“We are pleased that government has moved forward with these changes,” says Eric Boot, chair, Feeder Associations of Alberta Limited. “Our members will have greater flexibility to operate. They will have increased access to capital which will help in making their operations more robust and responsive to increased demand for feeder cattle.”

The loan guarantee program supports favourable lending rates for producers to buy, feed, and sell their livestock. The government provides loan guarantees so cattle feeder associations can negotiate better lending rates from financial institutions.

Leave a Reply

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Privacy Preference Center

Necessary

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache
__cfduid

Marketing

Measuring interactions with the ads on the domain.

__gads,fsk_ut_2317
scmtid,v,a,JSESSIONID
IDE

Statistics

These are used to track user interaction and detect potential problems. These help us improve our services by providing analytical data on how users use this site.

_ga,_gid,_gat,_cb,_chartbeat2,_chartbeat4
_ga,_gat
_ga,_gid
metrics_token

Preferences

Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

chartdefaults, comment_author, comment_author_email, comment_author_url
JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session
personalization_id, tfw_exp