FCC is helping alleviate the financial strain caused by these tariffs
Farm Credit Canada (FCC) is stepping in to support Canadian farmers as new U.S. tariffs are implemented. With $1 billion in new lending, FCC is helping alleviate the financial strain caused by these tariffs.
"There is no relationship in the world like the one Canada shares with the United States, and that certainly extends to our agriculture sectors. Our supply chains are highly integrated, and our producers rely on fair access to the U.S. market. These unjustified tariffs will have a direct impact on them,” said the Honorable Lawrence MacAulay, Minister of Agriculture and Agri-Food.
"Building on our Team Canada response, FCC will be providing financial support to the sector as we adapt to the challenges ahead, so our farmers can keep their operations going and continue producing the best products in the world.”
“We know that agriculture and food producers across Canada are bracing for uncertainty,” said Justine Hendricks, FCC president and CEO. “Agribusinesses, farm operations and food processors are key drivers of our economy and FCC is ready to provide meaningful and immediate support to keep the industry moving forward at this critical time.”
Under the Trade Disruption Customer Support program, FCC is offering access to credit lines up to $500,000 and new term loans. Existing customers can also defer principal payments for up to 12 months. This program is available to both current FCC customers and non-customers who meet the necessary lending criteria. Those affected by these challenges are encouraged to contact their local FCC office for personalized solutions.
“Supporting the industry will also take strong collaboration as part of a team Canada approach,” said Hendricks. “FCC has served as a strong, reliable, and trusted industry presence for more than 65 years, and this current situation is no different. We will be working in partnership with industry associations and other financial providers to offer the solutions needed by the agriculture and food industry to take on the challenges ahead.”