Government expanding loan guarantees for ranchers hit by wildfires

By The Canadian Press
November 24, 2017 - 7:51am

VICTORIA —  The B-C government says it's expanding loan guarantees for ranchers in the Cariboo region following this summer's wildfires.

     The Ministry of Agriculture operates loan guarantee programs, providing assurances to financial institutions that it will guarantee 15 to 20 per cent of loans taken out by 12 B-C cattle breeding and feeding associations.

     The guarantees help ranchers secure financing to purchase livestock, increase their herd size and increase investment in B-C ranching.

     The ministry says it is increasing the amount of the Cariboo Bred Heifer Cooperative loan guarantee by a total of 600-thousand dollars.

(The Canadian Press)

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