The request for further support from ranchers in the region to help them grow their herds and businesses has resulted in the B.C Government increasing financial assurances for the Cariboo Bred Heifer Cooperative.
The province which operates loan guarantee programs that guarantee 15% to 20% of the loan amounts taken by 12 B.C. cattle breeding and feeding associations, will be increasing the amount of the Cariboo Bred Heifer Cooperative loan guarantee by a total of $600,000.
The Ministry of Agriculture made the announcement to support association members in expanding their ranching operations and help ranchers in areas impacted by the 2017 wildfire season on Thursday.
Lindy Gilson says that the Cooperative has seen tremendous growth over the last 18 months and anticipate it to continue.
“We applaud the government loan guarantee program for this opportunity that continues supporting the beef industry in British Columbia.”
The Cariboo Bred Heifer Cooperative currently has 270 members and in a typical year raises 6,000 calves.