Changes to loan program will save beef producers time, frustration and money
TORONTO - Ernie Hardeman, Minister of Agriculture, Food and Rural Affairs, announced changes to a key lending program to help farmers, and further reduce excessive red tape in the agriculture sector.
Improvements to the Feeder Cattle Loan Guarantee Program were announced in an address by Minister Hardeman at the Beef Farmers of Ontario's Annual General Meeting.
The changes would reduce unnecessary and costly credit checks in the program, which will save co-ops time and money. The revisions would also streamline the transfer of ownership of livestock once a loan is paid off. They are the result of listening closely to beef farmers, hearing their concerns and acting on their ideas to fix long-standing issues with the program.
"Our government wants to help these hard-working farmers focus on growing their businesses," said Minister Hardeman. "One way that we're doing this is by introducing changes to the Feeder Cattle Loan Guarantee Program that will reduce red tape and overall costs for co-ops, resulting in a better program for our farmers."
In addition, as part of the Restoring Ontario's Competitiveness Act, the government has proposed changes to the Ministry of Agriculture, Food and Rural Affairs Act that, if passed, would allow future program changes to be made faster.
Ontario's beef farmers are among the many impacted by out of date and unnecessary government red tape that's adding to their operating costs and hurting their competitiveness
These new changes add to the more than 30 red tape and regulatory reductions recently announced by the government to reduce the burden on job creators while protecting our environment and maintaining rules that keep Ontarians safe and healthy.
These changes are part of the government's multi-year Ontario Open for Business Action Plan, which is tackling the red tape that's driving jobs and investment out of the province. The plan includes a target to reduce regulatory red tape affecting businesses by 25 percent.
Source : Ontario.ca