Livestock producers who have breeder loans through a breeder association in Saskatchewan’s livestock loan guarantee (LLG) program can now apply for a break on repaying the loan principal, the province announced Friday.
Eligible producers can apply to have the principal payment extended for one year, during which they’ll be required to pay the interest due on the breeder loan.
Agriculture Minister Bob Bjornerud said in a release that the extensions would provide eligible producers with some “additional cash flow flexibility.”
This announcement follows an earlier agreement that puts the provincial LLG program in charge of administering the interest-only portion of the federal Advance Payments Program (APP) in Saskatchewan.
A producer in a feeder association — one with an eligible feeder advance — may then apply for a portion of the interest paid on that advance to be rebated through the APP.
Saskatchewan’s LLG program is made up of 101 producer-formed associations that access funding to buy livestock and build feedlots. In place since 1984, the LLG program has funded such investments to the tune of over $1.5 billion.
