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(Dave Bedard photo)
Crops, Markets

FCC offers new credit line against ‘current economic environment’

Ag lender to waive loan processing fees

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Farm Credit Canada’s recent outreach to specific agrifood sectors hit by unusual environmental conditions has now extended to those hit by the broader “economic environment.” The federal ag lender on Tuesday said it will offer an unsecured credit line of up to $500,000 with loan processing fees waived, “to help producers, agribusinesses and agri-food operations […] Read more
File photo of Rabobank’s office building in Utrecht. (Rabobank.com)

Rabobank to offer Canadian farm-level lending

Dutch co-operative bank's Canadian arm to loan directly to farmers, starting on Prairies

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Updated — A global financing firm operating at higher altitudes in Canada’s food and agrifood sector now plans to expand its business down to the farm and ranch level. The Canadian arm of Rabobank — an Amsterdam-based farmer co-operative lender, providing banking, leasing and real estate services in more than 38 countries — announced Tuesday […] Read more
(AFSC.ca)
Machinery

Alberta ag lender drops rural business loans

AFSC not taking new applications for program

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A program offering term loans to small- and medium-sized businesses in rural Alberta is off the provincial ag lending agency’s menu. Alberta’s Agriculture Financial Services Corp. (AFSC) announced Thursday it had discontinued its Rural Business Loan Program effective immediately, so as to “concentrate its efforts on agricultural producers and agribusinesses.” The decision means no new […] Read more
Farm Credit Canada Agency has decided to play the role of a catalyst to encourage more investment in technology.
News

How Farm Credit Canada became a major player in venture capital

The farm lender’s mandate now includes funding agri-food innovation

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Glacier FarmMedia – In 2017 the Barton report said Canada has a massive opportunity to boost exports of agricultural commodities, agri-food and seafood. The most memorable part of the report, from the Minister of Finance’s Advisory Council on Economic Growth, set a target of adding $30 billion to Canada’s agriculture and agri-food exports by 2027. […] Read more
(Dave Bedard file photo)

Manitoba to consolidate and shut agriculture, MASC offices

Province announces 'new rural service delivery model'

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Updated, Jan. 7 — Manitoba’s agriculture and resource development department and crop insurance and ag lending agency will close their offices in 21 communities and consolidate others this spring, in a bid to reduce their “physical footprint.” Agriculture Minister Blaine Pedersen on Wednesday announced what the province billed as “a new rural service delivery model […] Read more
BMO in May 2020 announced an agreement to sell its 107-year-old downtown Winnipeg building to the Manitoba Metis Federation for use as a new Metis Nation Heritage Centre. (File photo by Dave Bedard)
Markets

BMO regroups ag banking business

Ag-focused national banking team put in place

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With COVID-19 serving to “accelerate” changes in the industry, BMO Bank of Montreal says it has reset its farm banking work under the oversight of an expanded national agriculture and agribusiness banking team. BMO announced the new team approach Oct. 14, describing it as “a national team of agriculture banking specialists — team members with […] Read more
Central banks such as the Bank of Canada have clearly indicated that they intend to keep rates lower for longer, but some say assuming long-term rates will stay low isn’t necessarily safe.
News

Low interest rates present producers with opportunities

Central banks have indicated that they expect to keep rates low for a while

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Glacier FarmMedia – It’s a nice time to be carrying debt — if your business is flourishing. Not only are interest rates low, but lenders are looking for borrowers who can pay their bills. That puts farmers in the driver’s seat. Why it matters: Reworking debt when interest rates are low can reduce borrowing costs […] Read more

Cyber-Savvy Farmer

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