Feeder Cattle Loan Guarantee Program

The Ontario Feeder Cattle Loan Guarantee Program supports the operation of 18 feeder cattle co-operatives across the province. Each co-op is operated by a board of directors who negotiates a credit limit with a lender in order to assist members with the purchase of cattle for further feeding. Members may also be eligible for free interest on a portion of their loan.

Feeder cattle co-operatives located in Northern Ontario

Algoma

Area:
Algoma District

Administrator:
Robin McLeod
705.736.2236
knrmcleod@gmail.com

Northern Claybelt

Area:
Temiskaming, Cochrane

Administrator:
Carol Elliott
705.647.6161
northernclaybeltfeedercoop@hotmail.com

Rainy River

Area:
Dryden, Rainy River, Kenora and Thunder Bay

Administrator:
Joyous Bragg
807.482.3948 ext: 2498
joyousbragg@bellnet.ca

How your local feeder cattle co-operative can work for you

A simple five step process:

  1. A beef farmer living in Ontario applies to the Co-operative’s Board of Directors for membership.
  2. After becoming a member, applies for a purchase order for the amount of anticipated feeder cattle purchase, maximum of up to $500,000. A member can split purchase order to cover up to four groups of cattle.
  3. Once member receives purchase order, feeder cattle may be purchased in the name of the Co-operative.
  4. Cattle are tagged and notched by the member and inspected by the Co-operative supervisor.
  5. The Co-operative facilitates the payment for the cattle. When cattle are sold, they are sold in the name of the Co-operative and the member’s name and proceeds are applied to the loan.

What the Co-operative does for you

  • Attractive interest rate
  • No payments until cattle are sold (maximum 1 year)
  • Financing up to 100%
  • Loans may be obtained for home-produced calves, or for purchased feeder cattle
  • Limited financial information required for application
  • Lending is based on producer’s integrity and ability to feed cattle
  • Co-operative supplies ID ear tags (not CCIA), handles all paperwork for loan, administers all correspondence with the lender, and insures the cattle.

Costs to Members

Each Co-operative charges an annual membership fee, administration cost, insurance, tag cost and costs associated with the cattle purchase can also be included in the loan. A 5% security deposit is required based on amount of loan, refundable 90 days after loan is paid.