Feeder Plus Loans

Feeder Plus Loans

Print this Page

Feeder Plus Loans are a new revolving financing option for large-scale cattle producers. Obtain up to per cent financing on up to $ for purchasing feeder steers and heifers, or for advances on owned feeder cattle, and purchasing heifers for the intent to breed.

Purposes

  • Purchases of feeder steers and heifers.
  • Advances on owned feeder steers and heifers.
  • Heifers can be obtained with the intent to breed.

Qualifications

  • Applicants must be Manitoba residents who are at least 18 years of age and Canadian citizens or have lawful permanent residence status.
  • Applicants must personally operate the farm to which the loan applies.
  • The farm must be considered potentially viable and meet security requirements.
  • Feedlot operators have the choice of having an active status with Verified Beef Plus (VBP+) (certificate must be provided annually with audit/corrective action reports provided); or complete a Feedlot self-assessment (annually).
  • Applicant cannot be an active member of a feeder livestock association but may be a member of a breeder livestock association.
  • Applicants cannot participate in the Stocker Loan and Feeder Plus Loan programs simultaneously.

Repayment

Repayment is to be made upon sale of cattle, or within 18 months of steers/heifers (12 months for breeding heifers), whichever comes first.

Terms and Conditions

  • Loans are available up to $.
  • Advances are limited to per cent of current market value.
  • Maximum loan is not to exceed 90 per cent of the value of the livestock at time of purchase.
  • Cattle must have a minimum weight of 400 lbs (181 kg).
  • Cattle can be bought and sold from auctions, licensed dealers, and other farmers in the normal course of business.
  • Financed cattle must be sold within 18 months for stocker steers/heifers.
  • Heifers for breeding purposes must have a due date 60-days prior to expected calving date.
  • Loans with a term longer than 12 months will use MASC’s two-year interest rate.
  • Monthly inventory reports are required.
  • Quarterly inspections to be completed by a representative of MASC.
  • Annual renewal is required.
  • Interest rates are set at the time of each funding request based on the current prevailing rates.
Back to Top

Footer