Amount:

$150,000

Type of Program:

Loan


Description:

Eight co-ops have been formed in various regions of the province to provide members with loans to purchase beef breeding females.

Comments on Funding:

Funding ranges from $50,000 to $150,000, depending on co-op. Those who have not calved out 20 cows in previous year, are limited to a maximum of $25,000.

Most loans are payable over a five year term.

Each co-op charges an annual membership fee, administration cost, insurance and tag cost. A 15% security deposit based on loan amount is required.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

  • be individuals who are at least 18 years of age and who are landowners or who rent land, or are voting shareholders in partnerships or corporations owning land in Ontario;
  • be members of the eight co-ops providing funding;
  • have a purchase order for beef breeding females.

Applications Steps:

Applicants must:

1

apply to the co-op's board of directors for membership;

2

apply for a purchase order for the amount of anticipated breeding female purchase.

Once applicants receive a purchase order, breeding females may be purchased in the name of the co-op. Females are tagged with co-op tags and inspected by their supervisor. The co-op facilitates the payment for the cattle. Offspring are sold in the name of the co-op and the member’s name, then the loan payment is made.

Documentation Needed:

Applicants should check with the co-op in their area for the specific documentation required.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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