People at the front lines of Manitoba’s emergency farm loans program have been keeping a hectic pace.
In December, the provincial government announced the $25 million program available through the Manitoba Agricultural Credit Corporation.
Since then, field officers have been doing 10 to 15 interviews with farmers each day, said Gill Shaw, general manager of MACC.
“That is extremely busy,” said Shaw, noting it doesn’t leave the loans officers much time for paperwork.
“We are extremely pressed at this point.”
The MACC has recruited provincial agricultural representatives and farm management specialists to explain the loans application form to farmers to free up processing time, said Shaw.
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As of Feb. 12, the MACC had received 325 applications for loans worth around $18 million. Farmers coming in to MACC offices “are the ones who really, really need it.”
Shaw said 69 loans, worth $3.7 million, had been approved by Feb. 12. Another 129 applications worth $7 million were being processed at that point, with 106 applications worth $6 million waiting to go.
“We’re putting out about $1.3 million (in loans) a week,” said Shaw.
Between now and the end of April, he expects applications worth about $39 million will come in to MACC offices, and the lending agency will end up distributing about $25 million in loans.
“We are waiting for the second wave.”
Shaw said no applications have been declined: “We are recognizing the urgency of the situation.”
Rather than decline applications, officers are directing farmers to other suitable financial programs, such as debt consolidation loans offered by MACC, or mediation services with creditors.
Traditionally, the agency has a very low rate of decline, said Shaw.
In January, agriculture minister Harry Enns said he had received complaints the loans program wasn’t working as quickly as he wanted.
Shaw said he thinks the complaints were based on some misconceptions. The loans are not grants, he said, and require security, which means some paperwork.
Three-quarters of the loans have been approved by officers on the spot, said Shaw. Some have been pro-cessed in as little as two days.
MACC processes regular loans within 11 days. Three years ago, turnaround time was as long as 90 days.
Don Dewar, president of Keystone Agricultural Producers, said the lobby group has been getting fewer calls from farmers about the loans program now that money is flowing.
