GFM Network News

FarmCash now available across the West

Reading Time: < 1 minute Alberta Wheat is opening up its FarmCash Advance Payments Program to growers across Western Canada. The farm group began the program in the fall of 2018 and offers cash advances to producers of more than 50 agricultural commodities – including all major crops, livestock and honey. There are 33 “administrators” of the federal loan guarantee […] Read more

Host of community organizations in Alberta receive funding

Reading Time: 2 minutes A host of communities across Alberta will be proceeding with improvement projects after receiving grants from foundations. Fifteen organizations, one school and one municipality in the province shared $282,000 grants given out by FCC AgriSpirit Fund, which supports rural capital projects across the country. The charitable initiative of Farm Credit Canada awards $5,000 and $25,000 […] Read more

Farm lender to help financially stressed farmers

Farm lender to help financially stressed farmers

Reading Time: < 1 minute Farm Credit Canada (FCC) says it wants to help farm customers “who are facing financial setbacks due to circumstances beyond their control.” Michael Hoffort, the ag lender’s president and CEO, said FCC “will work with our customers to find solutions to any short-term financial pressure that might be weighing them down.” Many producers were unable […] Read more

Lender willing to ease loan payments

Reading Time: < 1 minute The country’s biggest ag lender says it will offer “flexibility” for customers hit by snow and rain this harvest. “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 by wet[...]
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Concept of making money agriculture

Provincial lender triples its loan maximums for farmers

In addition to the new $15-million limit, 
the Crown corporation is making terms 
more flexible

Reading Time: 2 minutes The Agricultural Financial Services Corporation is upping the amount of money it will loan producers. The move comes after a two-year review that included public consultation and meetings with producers and industry groups. “The review found that there is strong need for AFSC’s financial support across Alberta aimed at encouraging rural development and meeting the[...]
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Farms in financial good shape, says Farm Credit Canada

Reading Time: < 1 minute Although total farm debt in Canada now tops $100 billion, the sector is “well positioned to thrive in the current economic and financial environment,” says the chief economist with Farm Credit Canada. “The current debt-to-asset ratio in agriculture remains lower than the 10-year average… and farm liquidity remains healthy,” said JP Gervais. A relatively low[...]
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Cropped image of handsome businessman in casual wear using a laptop and examining documents while working in the office

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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Hand over wheat field in early summer evening.

Eighteen good causes championed by farmers receive grants

Reading Time: 2 minutes Thanks to the support of Canadian farmers, 66 rural-based charities and non-profits — including 18 in Alberta — have received a $2,500 grant from the Canada’s Farmers Grow Communities program. The six-year-old program, sponsored by the Monsanto Fund, gives grants to schools, libraries, historical societies, health and recreational facilities, rural daycares, senior clubs, 4-H groups,[...]
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(Thinkstock photo)

Farm bankruptcies down, but not out – just different

Winnipeg | CNS Canada – Fewer farms means fewer bankruptcies but with that simple equation comes the realization that the size and tone of those bankruptcies in North America is growing. “They are larger, the amount of debt is greater, the fact that we’re not seeing a higher number doesn’t mean there isn’t considerable distress[...]
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