Farm Credit Canada (FCC) has launched a new program to assist Canadian producers in maintaining or expanding their cattle herd.
The FCC Replacement Heifer Program consists of a loan with a maximum two-year period of interest only and a maximum life of seven years. Variable interest rates will be capped at prime plus 1.5%, and processing fees will be waived, FCC said in a release Tuesday.
“The drought conditions this summer affected a large cattle producing area in Western Canada and right now ranchers are making decisions about how to best manage their herds,” said Sophie Perreault, FCC’s chief operations officer. “The Heifer Replacement Program will help reduce cash flow pressures for those who want to maintain or grow their herd.”
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