PROVINCE MOVES TO IMPROVE FEEDER CATTLE LOAN PROGRAM

on April 26 | in Ag News | by | with Comments Off on PROVINCE MOVES TO IMPROVE FEEDER CATTLE LOAN PROGRAM

From a news release


Ernie Hardeman, Minister of Agriculture, Food and Rural Affairs, has announced changes to a key lending program to help farmers, and further reduce excessive red tape in the agriculture sector.

Improvements to the Feeder Cattle Loan Guarantee Program were announced in an address by Minister Hardeman at the Beef Farmers of Ontario’s Annual General Meeting.

The changes would reduce unnecessary and costly credit checks in the program, which will save co-ops time and money. The revisions would also streamline the transfer of ownership of livestock once a loan is paid off. They are the result of listening closely to beef farmers, hearing their concerns and acting on their ideas to fix long-standing issues with the program.

“Our government wants to help these hard-working farmers focus on growing their businesses,” said Minister Hardeman. “One way that we’re doing this is by introducing changes to the Feeder Cattle Loan Guarantee Program that will reduce red tape and overall costs for co-ops, resulting in a better program for our farmers.”

In addition, as part of the Restoring Ontario’s Competitiveness Act, the government has proposed changes to the Ministry of Agriculture, Food and Rural Affairs Act that, if passed, would allow future program changes to be made faster.

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