Reading Time: 3 minutes British Columbia is a unique place in the world. The variety of food grown is astounding as is the diversity among its processed products. The landscape is home to tiny farms and large ranches, local processors and those who export worldwide. This is a province of mountains, islands, rivers, ocean, lakes, ports and flyways, valleys […] Read more
Schoepp: More farms need to plant the seeds of financial literacy
Many operations, both new and old, pay a big price for not knowing the language of finance
Tax records show decline in Alberta farmers’ income
The StatCan data isn’t easy to parse, but the trend in recent years has been downwards
Reading Time: 2 minutes Even before the pandemic and the drought, Alberta farmers — along with their Canadian counterparts — saw their incomes drop, according to the latest report from StatCan. “Farm families in Alberta earned the highest average total income nationally for a second consecutive year in 2019,” the federal agency said in a recent report. “However, their average […] Read more
Ag lender willing to ‘find solutions’ for farmers
Reading Time: < 1 minute Farm Credit Canada (FCC) is offering a customer support program to farmers and ranchers hit by adverse growing conditions. “We are watching the weather situation very closely and are talking to customers daily,” said Michael Hoffort, FCC president and CEO. If clients suffer cash flow problems. ”We’re ready to support them and find solutions,” he […] Read more
Cash advances take a ‘very dramatic’ jump, say administrators
Farmers can now borrow more against crops in their bins, and that’s what they’re doing
Reading Time: 4 minutes There’s been a “very dramatic” spike in applications for cash advances since Ottawa upped the amount farmers can borrow against crops in their bins. “We’ve had probably an extra 500 applications this year, and it’s not just new producers to the program — it’s also increased usage of the program by our existing customers,” said […] Read more
Struggling with cash flow? Take a second look at these farm lending programs
Giving yourself some financial breathing room can make your operation stronger — and reduce your stress
Reading Time: 5 minutes Hammered by dry weather and trade upheaval, many Alberta producers are struggling with cash flow. And more will be in the months ahead. But there is help out there. “It’s important for producers to know that there are more options out there than they may realize,” said Don Anderson, Farm Credit Canada’s senior vice-president of […] Read more
Maximums for loan guarantee program doubled
Feeder association members can get up to $2 million from loan guarantee program to finance calf crop
Reading Time: < 1 minute The maximum loan limit for the provincial Feeder Association Loan Guarantee Program has been doubled to $2 million. The increase, which applies to both individual and joint membership loan limits, will allow feeder associations to distribute their fixed costs across a greater number of livestock and provide increased access to capital. The provincial government is […] Read more
Brazil meat company Minerva plans IPO by Chilean unit
Sao Paulo | Reuters – Brazilian meat company Minerva SA plans an initial public offering in Santiago of its units outside Brazil as a way to reduce its debt, according to a securities filing on Tuesday. After a capital increase at its Chilean subsidiary Athena Food, Minerva said it will gather its operations in Paraguay, Uruguay […] Read more
Seven summer financial bottlenecks
In biz-speak, a bottleneck is a point of congestion that causes delays or inefficiencies, leading to higher costs. It’s a perfect metaphor for farm finances at a time of year when the bottle we’d rather be thinking about might have something cold in it, with us sitting on a dock. Yet summer is a too-good-to-miss[...]
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When it comes to cash flow, ignorance is dangerous
Tighter margins make it that much easier to find yourself caught short when bills come due
Reading Time: 2 minutes The new year is a good time to review your marketing plans and cash flow projections, says a provincial farm financial specialist. “Cash is the lifeblood of a business, but with so much emphasis usually put on profitability, it can be easy to overlook this fact,” said Rick Dehod. “Poor cash flow management can drive[...]
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That work you hate pays very well
If you’re still running the farm on a cash basis, you’re tying one hand behind your back
Reading Time: 2 minutes Nearly three decades ago, a study of farmers’ work priorities found — to no one’s surprise — that record-keeping ranked well behind field work; buying and selling machinery and crops; and equipment repair. Only 16 per cent hired outside help for record-keeping, 50 per cent did it themselves and 20 per cent named their spouse[...]
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