Farm Credit Canada (FCC) is offering support to customers in parts of eastern Ontario and western Quebec facing financial hardship as a result of excessive moisture during this year’s growing season.
Many producers in that area are facing a cash shortfall since they were unable to seed or were forced to replant due to extreme rainfall, while others face additional costs from having to purchase feed as a result of reduced yields of corn, soybeans and hay.
“Agriculture is the only industry we serve, so we have a deep understanding of the challenges that come with the business,” said Michael Hoffort, FCC president and CEO, in announcing the Customer Support Program.
“Excessive rainfall has certainly impacted the growing season in parts of Eastern Canada and, in some cases, caused financial challenges for farm operations, as well as personal hardship and stress,” he said. “We want our customers to know we stand by them and will show flexibility to help them through challenging times.”