Agriculture Minister Bob Bjornerud has introduced an optional one-year deferral of principal payments on breeder loans for cattle and sheep producers participating in the Livestock Loan Guarantee program.
"Livestock producers continue to face a number of challenges," Bjornerud said. "This principal payment extension will help producers address cash flow concerns and purchase feed."
Producers who have loans with a breeder association can apply to have their principal payments extended for a year, but are still required to pay the interest. Those who already made their payment in 2009 are eligible for a one year deferral on their next principal payment.
As of May 31, 2009, there were 1,824 producers with loans through a breeder association. Producers can pick up applications from their local breeder association.
"Livestock producers continue to face a number of challenges," Bjornerud said. "This principal payment extension will help producers address cash flow concerns and purchase feed."
Producers who have loans with a breeder association can apply to have their principal payments extended for a year, but are still required to pay the interest. Those who already made their payment in 2009 are eligible for a one year deferral on their next principal payment.
As of May 31, 2009, there were 1,824 producers with loans through a breeder association. Producers can pick up applications from their local breeder association.
Wed, Apr 17, 6:30 PM
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