Gov’t of Alta. increases AFSC borrowing limit

Mar 03, 2021

Individual lending limit also increases from $15 million to $30 million

Staff Writer

Farms.com

The agriculture industry in Alberta can now take advantage of an increase in borrowing limit for Agriculture Financial Services Corporation (AFSC).

Alberta Agriculture and Forestry representatives recently announced the increase in borrowing limit from $2.8 billion to $3.6 billion by 2024 for AFSC.

“That's going to be direct loans to farmers, ranchers, food production companies and food processors. It really will go a long way in helping to attract new investment into agriculture, specifically in Alberta,” said Devin Dreeshen, minister of Alberta Agriculture and Forestry.

Along with the $800 million increase in borrowing limit, the individual lending limit is increasing from $15 million to $30 million from AFSC, said the release.

There is also a change to approvals. A new quick loan process means loans up to $150,000 can be approved in less than a day and there is a reduction on loan approval turnaround overall so more loans can be approved in under a week, said the release.

“The hard work of farmers and ranchers is something that's very key to the economic recovery of the province,” Dreeshen told Farms.com. I want to “thank farmers, ranchers and ag producers across the province for all their hard work in last year, and if they're looking to expand and to grow their operations, now is a great time to invest and try to have more economic activity.”

laughingmango/iStock/Getty Images Plus photo

Video: Season 7, Episode 1: Managing Risk and Seeing Opportunities in U.S. Pork Production

Today’s episode features three guests discussing the similarities and differences between pork production in the United States and Brazil, along with strategies for managing risk in today’s industry while recognizing and acting on opportunities. First, Dr. Anne Caroline de Lara, executive manager of live pig production at Seara Alimentos, a JBS company in Brazil, is joined by Dr. Matthew Turner, head of operations for JBS Live Pork. Together, they discuss how labor, climate and ventilation challenges vary between Brazil and the United States, while underscoring their shared commitment to raising healthy pigs. They also point to lessons producers in both countries can take from one another’s systems and on-farm experiences. Then, Brady Reicks, risk manager at Reicks View Farms, shares his perspective on risk management, drawing from his background in markets and his transition into farming. He discusses how protecting margins varies by operation and offers practical approaches producers can use to make marketing and business decisions with greater confidence rather than hesitation.

Both conversations were recorded at recent industry events focused on swine livability, including the International Conference on Pig Livability and Iowa Swine Day.