Livestock producers in Manitoba will now be able to take advantage of increased borrowing limits under the Manitoba Livestock Associations Loan Guarantee program.
The borrowing limit for the MLALG program has increased to eight million dollars from five million for associations, and up to $500,000 from $300,000 for individual association members.
Manitoba's Ag Minister Ron Kostyshyn says based on recommendations from industry, this expansion will ensure producers can access the financing they need to manage their farms effectively.
Administered my Manitoba Agricultural Services Corporation, MLALG provides a 25 per cent guarantee of the loans made by private-sector lenders to livestock associations.
In 2014, MASC approved a total loan amount of $21.6-million for eight livestock associations with more than two hundred members.
