Loans available for pig farmers

 The Canadian Pork Council is asking their members to take a long and serious look at a federal program that is designed to allow them to restructure their debt. The Canadian Hog Industry Loan Loss Reserve Program is a federal program that is run in conjunction with some Canadian chartered banks and allows hog farmers who are in debt to refinance their debt into a single loan.

Although some of the members feel that they don’t need another loan, the Canadian pork Council is recommending that people at least take a look through their accountants at what can be accomplished by taking out one of these federally subsidized loans through a bank.

A press release from the Canadian Pork Council in fact states that the opportunity to look at the restructuring program won’t be available forever and that members should at least take a good look at it while it’s available.  A significant portion of the industry rides on the success of the program.