By CHAT News Today

Only three applications so far for Hilda wildfire assistance: AFSC

Jan 15, 2018 | 10:03 AM

MEDICINE HAT, AB — The first week of applications for loans to assist farmers affected by the Hilda grass fire has wrapped up, and the interest so far hasn’t been great.

According to Mustafa Eric, media relations coordinator with the Agriculture Financial Services Corporation (AFSC), only three applications have been received for the aid program, which opened up on January 8. The applications are currently being processed.

The province announced in December that an assistance program is being set up through the AFSC to allow eligible ranchers and farmers to apply for loans of up to $25,000 to fund working capital, payment of expenses or acquisition of replacement assets. In addition, the Wildfire Water Supply Program will be available to help replace watering systems damaged by the fire.

The loans are interest free for 24 months for the initial term, and can be renewed for an additional term up to 60 months following the initial interest free period; loans have a maximum amortization period of 84 months.

Following the interest-free period, interest rates will be based on AFSC’s interest rates at the time of renewal.

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When the program was initially announced in December, Cypress County Reeve Richard Oster and Cypress-Medicine Hat MLA Drew Barnes expressed criticism, saying $25,000 is not enough to help the ranchers get back on their feet.

Applications for the support program are open until March 31. Full details and requirements can be found here.