Some good news for producers growing or finishing livestock.

The Alberta Government announced the lending limit through the Alberta Feeder Association Loan Guarantee Program has doubled.

Producers can now borrow up to $2 million, compared to the original $1 million dollar lending limit.

However, the 45 local Feeder Associations in Alberta which administer the program will still decide the maximum lending limit for each individual or joint membership.

The maximum equity advance for contracted cattle also increased from 50 to 75 per cent, which the Province says, will allow producers to generate more favourable cash flow for their operations.

"Feeder associations in Alberta are facing challenges in accessing the capital they need," said Alberta's Ag Minister, Oneil Carlier. "We have the backs of our producers-that's why we are introducing these amendments. 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."

In 2016, the Alberta government increased the provincial loan guarantee to $100 million from $55 million for feeder association members buying and feeding livestock for market.

 

Send your news tips, story ideas and comments to [email protected]

More Ag News

CanFax Manager Discusses U.S. Holstein Steers Fed In Alberta

Canfax Research Services Manager, Brenna Grant, says Holstein dairy steers are coming up from the United States to be finished in Alberta. Grant says it's because of a change to a U.S. packer's…

Wage Support For Employing Young People On Farms This Summer

The Alberta Government is helping farmers give youth work experience in agriculture this summer. The Summer Farm Employment Program reimburses employers 50 per cent of wages, or $500 per month, from…

Last Call For Alberta Farm Animal Care Award Nominations

Friday, February 15 is the last day to get your nominations in for the Alberta Farm Animal Care Awards of Distinction. The provincial farm group based out of High River is looking to recognize people…

Alberta Open Farm Day Host Applications Now Open

The Province is already gearing up for Open Farm Days this summer by accepting host farm applications. This year's event will be held Saturday, August 17 to Sunday, August 18. This will be the…

Training A Computer To Recognize And Tend For Prairie Crops

A University of Winnipeg research project has received a $250,000 Weston Seeding Food Innovation Grant. The project will examine ways to train a computer to recognize and tend for prairie crops. To…

Class 1 License Changes Cause Problems For Ag Industry

Alberta's agriculture community was surprised to hear about changes to getting a Class 1 drivers license starting March 1, 2019. Alberta Transportation says they consulted with groups representing…

Manitoban Receives 4-H Canada Distinguished Alumni Award

A farm business coach from Boissevain has been honoured with the first ever 4-H Canada Distinguished Alumni Award. Elaine Froese began her 4-H journey at the age of nine, when she was a member of the…

New Canadian Agricultural Strategic Priorities Program

The federal government has announced an investment of $50.3 million over five years for the new Canadian Agricultural Strategic Priorities Program (CASPP). "Canada's agricultural sector is strong and…

Feed A Farmer Cook-Off Showcases Alberta Agriculture

Agriculture for Life hosted their Feed a Farmer Celebrity Cook-Off on Tuesday in celebration of Canada's Agriculture Day. The event was hosted at the Atco Blue Flame Kitchen in Calgary, where local…

Micro-Cultivation Opportunities For Local Farmers

Arete Cannabis Consulting Ltd. is encouraging farmers in the Foothills to take a stab at growing cannabis to combat what they call a shortage of cannabis in Canada. Producers can get involved in…

DiscoverWestman.com is Westman's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login