{"id":314,"date":"2019-09-16T14:48:07","date_gmt":"2019-09-16T20:48:07","guid":{"rendered":"http:\/\/sklivestockfinance.ca\/?page_id=314"},"modified":"2019-09-24T15:48:11","modified_gmt":"2019-09-24T21:48:11","slug":"sk-livestock-finance-co-operative-update","status":"publish","type":"page","link":"https:\/\/sklivestockfinance.ca\/index.php\/sk-livestock-finance-co-operative-update\/","title":{"rendered":"UPDATE"},"content":{"rendered":"\n

September 16, 2019<\/h4>\n\n\n\n

There\nhave been a lot of exciting things happening at SK Livestock Finance\nCo-operative (SKLF) over the past couple of months! We are excited to share\nsome of those updates with you today.<\/p>\n\n\n\n

Firstly,\nwe are thrilled to have received applications from over 800 members across the\nprovince! We have been working diligently since November 2018 to build a\nco-operative that offers innovative, affordable and competitive financing\noptions for our members and we are looking forward to working together with all\nof you going forward.<\/p>\n\n\n\n

We\nhave made significant progress with processing the membership applications that\nwe have received and are getting very close to beginning the transfer process\nof each Livestock Loan Guarantee Program (LLG) Association. For those of you\nthat are unfamiliar with the membership application process, it is as follows:<\/p>\n\n\n\n

  1. SKLF receives the membership applications and consent forms\nfrom the LLG Association Secretary for all its members.<\/li>
  2. An SKLF Regional Secretary reviews all received forms to\nensure they are accurate and complete. If any information is missing, the SKLF\nRegional Secretary works directly with the LLG Association Secretary and\/or\nmember to obtain the missing information.<\/li>
  3. Once all applications are reviewed and complete, the SKLF\nRegional Secretary sends the signed consent forms off to the Association\u2019s Financial\nInstitution and the Ministry of Agriculture to obtain additional information about\neach grandfathered member. Information being collected at this stage includes,\nbut is not limited to, current outstanding loan amounts, approved loan limits\nand summer 2019 inventory numbers.<\/li>
  4. Once all information has been received from the Financial\nInstitution and Ministry of Agriculture, the SKLF Regional Secretary prepares the\nMaster Agreements, Schedules and Basic Member Rules documents for each member\nof that Association.<\/li>
  5. When all documents are completed, the members of the\nAssociation will be contacted to sign all required documents.<\/li>
  6. Once the documents have been signed by all members of the\nAssociation, SKLF will pay out the existing loans, coordinate the transfer of\nassurance funds and transfer the Association\u2019s brands over to SKLF. (Members will\nnot be required to rebrand as part of this transfer process.)<\/li><\/ol>\n\n\n\n

    At\nthis time, most of the applications are in steps 3, 4 and 5. We are processing\ndocuments as quickly as possible and have six people working full-time on\ntransferring members over. We understand that the transfer process is taking\nlonger than many would like (we agree with you!), and we truly appreciate your\npatience and co-operation as we work through the six steps outlined above.<\/p>\n\n\n\n

    SKLF\nis pleased to be working with BMO Bank of Montreal for all our financial needs.\nWe are in the final stage of concluding the last of the paperwork and are\nlooking forward to providing you with an update once everything is set up and\nready to go.<\/p>\n\n\n\n

    While\nwe cannot guarantee a timeline on when your loans will be officially\ntransferred over, we are hopeful to have all 800+ members transferred over by\nthe end of October.<\/p>\n\n\n\n

    Another\nexciting development for SKLF is that we have assembled a team of experts to\nwork for your co-operative. We are pleased to introduce the following\nindividuals on our team:<\/p>\n\n\n\n