Ontario Feeder Cattle Loan Guarantee Program
The Ontario Feeder Cattle Loan Guarantee Program is a funding opportunity which aims to provide low-interest loans to beef farmers of Ontario. With a loanable amount up to $1,000,000 for individual and $1,500,000 for corporations, the program will support starting and expanding farmers by giving them access to a reliable source of credit at affordable rates.
- Beef Farmers of Ontario
Overview of the Ontario Feeder Cattle Loan Guarantee Program program:
The Ontario Feeder Cattle Loan Guarantee Program is a funding opportunity initiated by the Beef Farmers of Ontario which aims to provide reliable source of credit to young and expanding farmers at affordable rates and with favorable repayment terms. By joining and becoming a member of a cooperative, a total loanable amount up to $1,000,000 for individual and $1,500,000 for corporations can be obtained to be used in the purchase of feeder cattle and other farming facilities.
Benefits of the Ontario Feeder Cattle Loan Guarantee Program program:
- A total loanable amount up to $1,000,000 for individual and $1,500,000 for corporations
- Attractive interest rate
- No payments until cattle are sold (maximum 1 year)
- Financing up to 100%
- Loans may be obtained for home-produced calves, or for purchased feeder cattle
- Limited financial information required for application
- Lending is based on producers integrity and ability to feed cattle
- Co-op supplies ID ear tags (not CCIA), handles all paperwork for loan, administers all correspondence with the lender, and insures the cattle
Eligibility criteria of the Ontario Feeder Cattle Loan Guarantee Program program:
- A beef farmer living in Ontario that applies to the co-op's board of directors for membership
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