Frustrated beef farmers are lambasting the scope of a 2dollar million Beef Interest Pay-Down program announced Jan. 18, 2009 that, in only covering certain types of beef related loans, is expected to leave many cattle producers out in the cold. As outlined on the Nova Scotia Federation of Agriculture's (NSFA) website, the eligibility rules are as follows: On a first-come-first-serve basis the Nova Scotia Department of Agriculture will consider providing interest relief on loans, excluding mortgages,with terms up to five years. The loans must come from financial institutions, which the program defines as chartered banks. To be eligible for the program a loan must relate to beef production and come from a farm that has produced beef during the past six months. Applicants to the program have to get the signature of the financial officer overseeing their loans in order for their application to be considered by the NSFA and the Department of Agriculture.
展开▼
