New Business Solutions Fund

May 19, 2020

Federal Agriculture Minister Marie-Claude Bibeau announced more funding to help ag-related businesses deal with the impacts of COVID-19.

The new $100 million Agriculture and Food Business Solutions Fund will be overseen by Forage Capital Inc out of Calgary and paid out through Farm Credit Canada.

“The idea behind this fund is to help businesses in the food industry; could be primary production, agri-tech, manufacturing, packaging, and distribution. So, all the businesses working around the food supply chain are eligible. And it's for well-established companies who have a proven track record, but are facing a major business disruption.”

She says the fund will look at flexible financing solutions like convertible debt investments.

”It means that it's kind of a loan. But if the company has a hard time to repay, they can pay back with a piece of equity. This is you know, the type of loan that it's taking, let's say, a higher level of risk, and it could be very helpful for a company that’s facing a disruption, unexpected disruptions.”

She notes applications for the Business Solutions Fund will be assessed individually on their merit and will be supported to a maximum of $10 million.

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Video: Air Command Section Control for Pro-Force Spreaders

This patented section control system uses air to divert material on to different areas of the spinner disks for precise 4-section control, for an economical design by eliminating the need for added conveyor belts or movable spreader components. The section control uses the Raven RCM ISOBUS controller and a customer’s field boundary and coverage map to automatically turn off any of the four sections at any time to avoid applying valuable fertilizer in areas where it’s not needed.

This results in fertilizer savings which means more money in your pocket for a maximum Return On Investment. The powerful blower fan sends air through a 4-section manifold while the conveyor automatically speeds up or slows down as sections are turned on or off for consistent and precise fertilizer application.

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