Farm Credit Canada is offering support to customers in Alberta, Saskatchewan, and Manitoba who are facing cash flow pressure following flooding and other severe weather disruptions.
The federal agricultural lender said in a release Wednesday that assistance may be available to producers dealing with crop damage, delayed field operations and other financial challenges caused by excessive moisture and extreme weather.
“We stand by our customers over the long term,” said Angy Porteous, FCC’s senior vice-president of agriculture business financing. “We have a unique responsibility to partner with our customers and ease their financial stress where possible.”
FCC said it will consider a range of measures based on each producer’s circumstances. Those options may include additional short-term credit, deferral of principal payments, and other arrangements aimed at reducing immediate financial pressure. The statement added that FCC also provides financing for investments intended to improve farms’ resilience to future weather risks. Those projects may include drainage and water management systems, flood mitigation work, and other climate adaptation measures.
The announcement comes as producers across parts of the Prairies continue to deal with wet fields, localized flooding and delays to spraying, haying and other seasonal operations.
FCC encouraged customers affected by the weather to contact their relationship manager to discuss available options. Producers can also call the FCC Customer Service Centre at 1-888-332-3301.
