Reading Time: 5 minutes There’s been a surge in the number of farmers seeking cash advances thanks to soaring interest rates and a big increase in the interest-free portion of the loan. And the deal might even be tempting farmers who don’t need an operating loan. On April 3, the opening day of the 2023 program, the Canadian Canola […] Read more
Cash advance applications soar along with interest rate
With the interest-free portion being upped to $350,000, producers would save thousands — or even invest it
Reasons for optimism seen on renewal for Ukraine grain deal
Deal set to roll over on Saturday
Reuters — A United Nations source on Wednesday said they have reasons to be “cautiously optimistic” on the renewal of a Black Sea grains export agreement, which is set to roll over on Saturday unless there are objections. The U.N.-backed agreement on July 22 allowed grain shipments to resume from certain Ukrainian ports on the […] Read more
Lending terms for ranchers
Reading Time: < 1 minute Agriculture Financial Services Corporation says it has made “some interim changes to our loan processes” to assist producers who need funds to buy feed, gain access to water or buy breeding females. “These changes include quick processing of loans up to $200,000, interest-only payments for up to 24 months, up to 60-month loan amortization and […] Read more
Cash advance change could put $5,000 in your pocket
Government is raising the interest-free portion to $250,000, saving farmers an estimated $61 million
Reading Time: 2 minutes Canadian farmers with cash advances will save $61 million in interest charges over the next two years after Ottawa boosted the interest-free portion of the Advance Payments Program. Producers can borrow up to $1 million against the expected value of their commodities in a program year, with the first $100,000 interest-free and the rest at […] Read more
JBS parent pleads guilty to U.S. foreign bribery charges
New York/Rio de Janeiro | Reuters — Brazil’s J+F Investimentos, parent company of the world’s largest meatpacker, JBS, pleaded guilty to U.S. foreign bribery charges and agreed to pay US$128.25 million in criminal fines, prosecutors said on Wednesday. J+F is paying only half of the $256.5 million fines levied due to settlements made with Brazilian […] Read more
Briggs + Stratton filing for reorganization, courting buyers
Stalking-horse deal in place with private equity firm
U.S. outdoor power equipment maker Briggs + Stratton has locked in a stalking-horse buyer for its assets as it seeks a court-supervised reorganization. The Milwaukee-based company announced Monday it has a stock and asset purchase agreement in place with New York private equity firm KPS Capital Partners, best known as an investor in manufacturing companies. […] Read more
AgDealer offers online equipment financing, shipping tools
Canada’s biggest used farm equipment shopper publication has added tools to link prospective buyers to options for payment plans and shipping. AgDealer on Monday announced “major enhancement(s)” at its AgDealer.com site, where each equipment listing will include buttons linking to tools from CWB National Leasing and Trusted Dispatch. The online tools allow AgDealer.com users to […] Read more
Margarita Louis-Dreyfus seals share buyout
Paris | Reuters –– Margarita Louis-Dreyfus has completed a purchase of minority shares in agricultural commodity trader Louis Dreyfus Company, ending a long-running tussle with other family members. The buyout was completed on Jan. 25 and increased the stake of Margarita Louis-Dreyfus’ Akira trust to 96.2 per cent of Louis Dreyfus Company Holdings B.V., she […] Read more
Second farm organization offering cash advances
Reading Time: < 1 minute Producers have another option when seeking a cash advance. Beginning Sept. 1, the Alberta Wheat Commission will provide cash advances through FarmCash under the federal government’s Advance Payments Program. The federal loan guarantee program provides low-interest cash advances up to $400,000, with the first $100,000 interest free. FarmCash will offer advances on 45 commodities, including […] Read more
Up your odds of getting a loan
Reading Time: < 1 minute Alberta Agriculture is encouraging producers to make use of a three-part fact sheet on obtaining financing. Successful loan applications have many elements, said new-venture specialist Kathy Bosse. “Asking for funding is not unlike a job interview,” she said. “Be prepared to address holes or weaknesses in your plan to show you also recognize obstacles but […] Read more
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