ABBOTSFORD, B.C. — A Community Futures loan program is helping 4-H members purchase project supplies while also introducing them to the world of high finance.
Shelagh Pemberton, loans manager with CF Thompson Country in British Columbia, said the program gives youth a chance to participate who might not otherwise have been able to afford it.
She said her CF, one of 10 in B.C. working with 4-H, got involved because it is situated in ranch and farm country.
Pemberton, who said that community that has seen its share of ups and downs, believes 4-H is a good program to keep kids involved in agriculture.
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“We took it on because it’s a great vehicle for the 4-H program, for the parents that can’t afford to buy the animal and feed them,” she said.
“A lot of times the project doesn’t even sell for what you put into the animal.”
When the animal is sold in the late fall, the money is repaid.
“We have not lost anything on it.”
As part of the program, a 4-Her can apply to borrow up to $1,500 in interest-free loans for an animal or materials needed for any project approved by the 4-H club leader.
In subsequent months, the member sends CF photos of his or her project and CF members attend 4-H events.
Kevin Rothwell, B.C. 4-H manager, said the program develops entrepreneurial skills in youth and enables those without a farm access to farm animals and a chance to participate in livestock projects.
“There was an opportunity where they could access some funds, learn some budgeting and they’re already (record keeping),” he said at the 4-H Canada annual conference in Abbotsford, B.C., in May.
“It was a nice fit for 4-H and Community Futures.”
Each member must sign for the loan along with a parent and present their booklets detailing feed costs.
“Credit is a huge issue. This is a program that gives those kids a real jumpstart and some life skills going out,” said Rothwell.
Some CFs in Western Canada offer similar programs and workshops for youth.
John Lockhart, general manager of CF Highwood, said Alberta CFs have provided youth and student business loans since 1995 for everything from ice cream stands and seed to fertilizer for crops to desktop publishing and DJ services.
“We normally like to do a group presentation … 4-H or classroom, to let the youth know how the program works and to talk about the trials and tribulations of a business venture,” he said.
“We then, one on one, sit with the youth and have them describe their ideas or help them develop an idea, walk them through completing a business plan and budget for their idea and then critique, coach them on their completion, then explain the money aspect and their obligations.”
Loan amounts are reviewed annually and may be increased as youth grow older.
