Glengarry Farm Finance Corporation (Glengarry) is announcing an investment from Farm Credit Canada (FCC) that will allow it to provide farmers with a more accessible source of financing.
Founded by a group of farm credit specialists, farmers and finance industry professionals, Glengarry is a wholly Canadian alternative lender in the agricultural market focused on providing flexible financing solutions for primary producers in Western Canada and Ontario.
Glengarry primarily works with farmers who, due to temporary credit issues, cannot secure loans through primary institutions. The company acts as a “transitional lender,” providing farmers with the financial backing they need to eventually become bankable.
FCC has committed up to $60 million, which significantly increases Glengarry’s capacity to support this underserved transitional lending market.
“FCC is committed to supporting Canada’s agriculture and food industry and that includes responsibly expanding capital solutions in underserved areas, said Darren Baccus, executive vice-president, investment, FCC Capital. “Glengarry serves a segment of the market that complements our current capital solutions. With the right support, qualified primary producers have the potential to continue to contribute to the resiliency, diversity and innovation of Canadian agriculture despite temporary financial disruptions in their operations.”
“We have an unshakeable belief in the farming community. That’s why we want to modernize farm financing and make it more accessible. We understand agriculture is an unpredictable business, and many determinants of success are well beyond a farmer’s control,” says Glengarry CEO Greg Kalil. “This new partnership with FCC puts us in the unique position of being able to offer a more comprehensive set of financing solutions to give farmers the support they need to work their way back to bankability.”
About Glengarry Farm Finance
Glengarry Farm Finance is an alternative institutional lender in the agricultural market in Canada providing flexible financing solutions to the farming community. Glengarry has extensive experience helping Canadian farmers navigate their way back into traditional banking. This has driven significant growth in its loan portfolio, which is expected to continue in the years to come. To learn more, please visit glengarry.ca.
About Farm Credit Canada
FCC is proud to be 100% invested in Canadian agriculture and food. The organization’s employees are committed to the long-standing success of those who produce and process Canadian food. FCC provides flexible financing and capital solutions, while creating value through data, knowledge, relationships and expertise. FCC offers a complement of financial and non-financial products and services designed to support the complex and evolving needs of the industry. As a commercial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it
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