KELOWNA, BC, Farm Credit Canada (FCC) is reminding B.C. fruit and wine customers of its support for those experiencing financial hardship amid a difficult growing season and the recent closure of a local fruit co-operative.
FCC recognizes the compounding challenges of 2024, in particular the cold weather in January 2024 that wiped out almost all of B.C.'s peaches, apricots and nectarines for the year and severely damaged cherry orchards. Wine grapes were also severely impacted with no 2024 vintage expected for some.
Now, many fruit producers are looking to find another way to get their tree fruits packaged, distributed and sold following the sudden closure of the fruit co-operative they have relied on up until now. These unfortunate circumstances may create a cash shortfall for producers.
"There will always be uncertainty and variables in the agriculture and food industry, but this is a particularly difficult year for fruit and wine producers," said Jeff Affleck, FCC senior vice-president of Western operations, in announcing customer support. "Unfortunately, events like what's happened in B.C. can make it difficult for expense obligations to be met."
"I also want our customers to know that when challenges seem overwhelming, there's help for more than just your financial business decisions. At FCC.ca/Wellness you can access online tools to support your mental wellbeing, build resilience and look forward to tomorrow. You can also find help lines if you need to talk to someone."
Customer support is a central part of FCC's business. The Crown corporation will consider additional short-term credit options, deferral of principal payments and/or other loan payment schedule amendments to reduce financial pressures on producers affected by last winter's cold temperatures. FCC will also offer flexibility, and even a combination of options based on the individual needs of its customers, since each farm financial situation is unique.
Customers in B.C. 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.
Although FCC customer support is being offered in specific locations, all customers can expect support through challenging business cycles and unpredictable circumstances on a case-by-case basis.
FCC is proud to be 100 per cent invested in Canadian agriculture and food. The organization's employees are committed to the long-standing success of those who produce and process Canadian food. FCC provides flexible financing and capital solutions, while creating value through data, knowledge, relationships and expertise. FCC offers a complement of financial and non-financial products and services designed to support the complex and evolving needs of the industry. As a commercial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it serves. For more information, visit fcc.ca.
Source : New