Cattle producers step in to replace Saskatchewan’s livestock loan guarantee program

Financing: News Roundup from the August 2019 issue of Canadian Cattlemen

Saskatchewan’s livestock loan guarantee program wrapped up at the end of July, but a producer-led group is set to fill the gap.

The province announced the end of the livestock loan guarantee program last summer, stating that lending wasn’t a core government function. Dropping participation was another reason given for the program’s end. Association members gathered at Canadian Western Agribition last fall to form a steering committee for the new co-operative, Karen Briere at the Western Producer reported.

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The new Saskatchewan Livestock Finance Co-operative’s programs are based on those once offered through the province. Those programs offer financing for cattle and bison, including feeder and breeder programs for both species. Members need to put down five per cent for the feeder programs at the onset of the loans, and 10 per cent for the breeder programs. Repayments vary based on species and program type.

The co-operative is split into five separate regions, with a regional secretary for each region. Board elections will be held at the fall annual general meeting, at a date yet to be determined. The current board includes: Sandra Moen, chair, west-central; Dale Cannon, vice-chair, southwest; Schenley Borys, southeast; Debra Florek, southeast; Lyle Franson, northwest; Don Johnson, northwest; Collin Muhr, southeast; Daryl Rutherford, human resources chair, northeast; Gerald Sanderson, policy chair, southwest; and Kris Webb, southeast.

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