MORE INFORMATION

FEEDING AT:
Custom Feedlots, Rented or Leased Land

If cattle are being fed in an approved custom feedlot, or on rented grassland, the member and custom feedlot or land owner, must sign a "Custom Feeding Agreement" PRIOR to the cattle there. The Supervisor needs to be notified when they are going to a different location (ex. summer pasture), as per Gov't Regulations. arriving

DEATH LOSS PORGRAM (DLP)

All members are required to be covered under our Death Loss Program, which covers death loss of any financed cattle (not available for lambs). All members pay the same percentage for the DLP fee (.75%) on purchase cost, but the deductible is based on your individual 3 year death loss percent. This way someone else's bad luck doesn't affect all members.
All deads must be reported immediately upon discovery or the claim may be deemed invalid (can text a picture to Stephen).
Any proceeds of claims, will be applied to the active loan. At the end of the year, if an excess amount is left in the current year's fund, the Board will determine how much to refund back to the members, and any refunds are prorated on the amount the member has contributed into the fund that year.

ON FARM DRUG COSTS

Members can also finance On Farm Drug Costs up to a maximum of $35.00 per head (for cattle)
The invoice cost would be added to the loan advance for the cattle
If member pays the cost, then proof of payment must be produced before he can be reimbursed
If member is charging it at the vet clinic, then invoice needs to be made out to Big Sky Feeder Assn. a/c of member name.

LIVESTOCK PRICE INSURANCE

Price Insurance premiums may be financed with the loan, providing that Big Sky Feeders obtains an Assignment of Proceeds from AFSC for any proceeds payouts, and Policy is in member's name. If the policy is in the Dealer's name, the member has used to get the insurance, then the Dealer must sign the assignment of proceeds, to ensure we get the payment.

INTEREST REBATE PROGRAM

Part of the WeCAP program that is administered by Feeder Associations, for Ag Canada which offers an interest rebate on Feeder Assn. loans, that refunds the interest of up to $250,000 in loans based on the WeCap per head rates as of Apr 1 each year. The application must be submitted when the loan is advanced, and the rebate usually follows approx. 6 months after the loan is paid out. This works best when used for longer term loans. Fee charged by WeCap is $236.25 per year, & deducted from rebate.

CLICK HERE FOR WeCAP PROGRAM INFO

WESTERN CASH ADVANCE PROGRAM

Program that is administered by Feeder Associations, for Ag Canada that enables livestock & grain producers to obtain cash advances on their own livestock & crops by offering lower interest loans on their home raised livestock (cattle, sheep, bison, goats) as well as Field Crops, Forage/Hay, Grass Seed. Applicant must be on AgriStablility, Livestock Insurance (WLPIP), and/ or Production Insurance in order to access these loans.

Applications are available at www.feederassoc.com/downloads , and click on Western Cash Advance forms.
Maximum loan limit up to $1 million on most commodities. Interest free portion on all commodities is $250,000.
Interest bearing portion on all commodities is $750,000, at Prime - .50%
Up to 2 year repayment period, depending on commodity advanced
Advance rate/head must be paid back within 7 days of receiving settlement for the commodity borrowed against, and provide a copy of the sales slip with your payment.
Proof of sale documentation must contain: date of sale, name of seller, name of buyer, type of agricultural product sold, quantity of agricultural product sold, and total dollar ($) value received for the sales of the agricultural product.
Proof of sales receipts must accompany each payment, and final deadlines must be met for the repayment of all advances.