Released on December 14, 2007
Agriculture Minister Bob Bjornerud has announced additional assistance to livestock producers within the Livestock Loan Guarantee (LLG) program.
"The livestock industry is currently dealing with a number of challenges that are affecting its profitability," Bjornerud said. "Providing extensions for producers within breeder associations of the LLG program will provide some additional cash flow flexibility for those producers."
Producers who have breeder loans through a breeder association can apply to have the principle payment extended for one year. The producer will be required to pay the interest due on the breeder loan.
"Our government recognizes the immediate challenges facing livestock producers, and we are committed to helping our industry find solutions," Bjornerud said. "This includes working with the federal government and other provinces on a strategic national approach to challenges facing all livestock producers."
The LLG program is made up of 101 producer formed associations throughout the province that access funding for the purchase of livestock and the construction of feedlot facilities. The LLG program has provided in excess of $1.5 billion in financing for producers since the program was introduced in 1984.
Applications for extensions will be available shortly from the breeder associations.
-30-
For more information, contact:
Scott Brown
Agriculture
Regina
Phone: 306-787-4031
Email: SBrown@agr.gov.sk.ca