Type of Program:
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:
apply to the co-op's board of directors for membership;
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.
Applicants should check with the co-op in their area for the specific documentation required.