BMO Bank of Montreal announced today it is offering a financial relief program to assist customers in the Prairies and Western Canada affected by the current grain handling backlog, amid a larger than expected crop and severe winter weather.
"We stand by our customers through both good and challenging times and hope this program will help to alleviate some of the issues currently being faced by grain producers and other related businesses as a result of the backlog," said Andrew Irvine, Head, Customer Solutions, Canadian Personal & Business Banking, BMO Bank of Montreal.
The program includes:
- Deferral of loan payments
- Waiver of a new loan application and concessions on renewal fees
- Flexible terms on existing and new lines of credit for 2018 are being developed on a case-by-case basis
Source : BMO