Farm Credit Canada says it will offer flexible financing to some prairie farmers who are facing cash flow issues as a result of this year’s weather-delayed harvest.
In an Oct. 31 new release, FCC said it work with farm customers to find solutions to financial issues.
Those solutions could include deferred principal payments and amendments to loan repayment schedules to reduce the financial pressure on producers affected by wet conditions.
“This year’s wet weather in parts of Alberta, Saskatchewan and Manitoba has certainly been challenging for many farmers whose crops have been affected by excessive moisture,” said FCC president Michael Hoffort.
“We want to assure them that we understand their situation and will help them through any financial hardship this has created.”
FCC said areas of Alberta, Saskatchewan and Manitoba experienced significant amounts rain in the last half of the growing season and snow since the beginning of October.
In some areas, wet weather has significantly delayed harvest and reduced the quality of crops.
Although customer support will be offered in specific locations, FCC will offer — on a case-by-case basis — flexibility to all customers facing challenging business cycles and unpredictable circumstances.
“FCC is the only financial institution entirely dedicated to agriculture,” Hoffort said.
“We stand by our customers throughout all business cycles.”
Customers in Alberta, Saskatchewan and Manitoba are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at 888-332-3301 to discuss their individual situation and options.
See the story here http://www.producer.com/2016/10/fcc-offers-flexible-terms-due-to-harvest/