By Dori Modney (@Dori_Modney on Twitter) with files from Alberta Government

Provincial Loan Support Available for Family Farms and Small Feedlots

Sep 14, 2016 | 1:59 PM

EDMONTON –  The Provincial Agriculture Minister has announced a $100 Million loan guarantee for cattle and sheep producers buying and feeding livestock for market.
 
Oneil Carlier, Minister of Agriculture and Forestry says the government is listening and making thoughtful changes to support producers.
 
“The cattle and livestock industries are key drivers in Alberta’s rural economy, and feeder associations are vital to the success of the industry. This is the result of the productive discussions we have had with the industry.”

The Feeder Association Loan Guarantee Program supports local, producer-run co-operatives in obtaining competitive financing. Government provides an overall loan guarantee which is being increased to $100 million from $55 million.

Feeder association members can use the guarantee to secure capital from lending institutions to buy beef calves and sheep to be fed for a number of months before being sold at market.

While the 80-year old program has been very successful, it was determined a larger loan guarantee was needed to reflect current cattle prices and greater demand for feeder cattle, as well as  ensuring eligible producers have access to the program.

Information from the government notes, the Feeder Association  Loan Guarantee Program began in 1936 and has guaranteed $9 billion in private financing to livestock feeders. 

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There are 46 local feeder associations and 3,500 livestock producers who are members of their local feeder associations in Alberta.