Agriculture Financial Services Corporation, better known as AFSC, has upped their lending limit.

The provincial crown corporation which provides producers and agribusinesses loans, crop insurance and farm income disaster assistance, announced their lending limit has increased to $15 million from the original $5 million limit.

AFSC's new programs are designed to help farmers entering the industry and allow current producers to expand their operations.

Entrepreneurs in agri-food and agribusiness sectors will also have access to these programs.

"The role of AFSC in a long-lasting economic recovery is crucial to our plan," says Alberta Minister of Agriculture and Forestry, Oneil Carlier. "Increasing the lending limit to assist agriculture producer, agribusinesses and food processors expand their operations is another important step towards economic growth, diversification and job creation."

The changes to AFSC's lending programs are effective immediately.

 

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