FCC supports Ontario corn producers impacted by a challenging harvest
By Farm Credit Canada
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.
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