BMO is offering a “financial relief program” for farmers in Western Canada. The program will allow qualifying clients to defer principal payments for a year and temporarily increase their operating loan.
The bank is also offering to waive or reduce fees “for applicants impacted by cash flow shortages as a result of the recent price declines and delayed marketing opportunities.”
“We always stand by our customers and hope this program will help alleviate some of the challenges they have been facing,” said John MacAulay, the bank’s regional president for the Prairies and N.W.T.
Producers can contact their local branch for details.