FCC supports Ontario producers impacted by a challenging harvest
Farm Credit Canada (FCC) is offering support to Ontario customers facing financial hardship as a result of extreme moisture during harvest and a mould that impacted Ontario's corn crops.
The adverse weather delayed this year’s harvest of various crops in many parts of Ontario and spawned a mould that significantly cut into the revenue of many corn producers.
“Ontario producers faced multiple challenges this year, topped off by a difficult harvest and reduced quality of some of the crop,” said Michael Hoffort, FCC president and CEO. “We want them to know FCC is here to help them through any financial hardship this adverse weather has created.”
Although FCC customer support is being offered in specific locations, Canada’s leading agriculture lender offers flexibility to all customers through challenging business cycles and unpredictable circumstances on a case-by-case basis.
“As a former grower, I know first-hand how much the weather can affect not only short-term revenue, but also the financing to put next year’s crop in the ground,” said Lawrence MacAulay, Minister of Agriculture and Agri-Food. “That’s why it’s important to have FCC as a strong and stable partner that understands the sometimes unpredictable and cyclical nature of farming.”
FCC will work with customers to come up with solutions for their operation and will consider deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressure on producers impacted this fall by disease and the wet conditions.
Ontario customers are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at 1-888-332-3301 to discuss their individual situation and options.
FCC is Canada’s leading agriculture lender, with a healthy loan portfolio of more than $33 billion. Our employees are dedicated to the future of Canadian agriculture and its role in feeding an ever-growing world. We provide flexible, competitively priced financing, management software, information and knowledge specifically designed for the agriculture and agri-food industry. As a self-sustaining Crown corporation, our profits are reinvested back into the agriculture and food industry we serve and the communities where our customers and employees live and work while providing an appropriate return to our shareholder. Visit fcc.ca or follow us on Facebook, LinkedIn, and on Twitter.
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Farm Credit Canada