Sheep farmers in Ontario now have access to a new short-term financing option to add animals to their operations as part of a new partnership between Ontario Sheep Farmers (OSF) and Scotiabank.
The Scotiabank Yield More Financing program will allow OSF members to access funds to purchase ewes and/or feeder lambs as a revolving line of credit with a simple application and approval process.
“We’re excited to partner with OSF to offer a financing solution for their members,” says Eleni Ladacakos, senior client relationship manager, Scotiabank.
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The program is open to Ontario sheep farmers with at least two years of experience. There are no security requirements, but credit scores are required.
“We know our members are eager to expand their operations because of the optimism and opportunities in the sheep industry for meat, dairy and wool,” OSF Chair John Hemsted said in a release.
Hemsted said the program is the first of its kind for the Ontario livestock sector.
Farmers looking to access the new funding should contact the OSF office to work with staff to complete the application form, or the application can be completed directly with Scotiabank.
Application information is available at ontariosheep.org under the “Programs” tab, or by calling OSF directly at(519) 836-0043. Interested sheep farmers can also contact Scotiabank directly by email at [email protected] or calling (866) 603-4188.
