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FCC’s COVID-19 relief measures
March 30, 2020
By Top Crop Manager
By Top Crop Manager
March 30, 2020
By Top Crop Manager
By Top Crop Manager
Topics
Following the Government of Canada’s announcement of increasing lending capacity by $5 billion, Farm Credit Canada (FCC) has released details of their COVID-19 support program. This includes a summary of the current program’s relief measures, and a frequently asked questions (FAQ) section to provide a more complete explanation.
In an effort to maintain farm cash flow during the critical seeding and planting period, FCC’s measures can be summarized as:
- a deferral of principal and interest payments up to six months for existing loans; or
- a deferral of principal payments up to 12 months;
- access to an additional credit line up to $500,000, secured by general security agreements or universal movable hypothec (Québec only).
For more information and updates, visit FCC’s COVID-19 response webpage.
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