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(Alice McFarlane/farmnewsNOW Staff)
Agriculture financing

Communication key for farmers and lenders

Jun 24, 2019 | 3:00 PM

Weather and trade challenges are having an impact on producers across the country.

Farm Credit Canada (FCC) is reminding customers that they are here to support them through these uncertain times.

Darren Howden is the FCC vice president of operations for the prairies.

“In Saskatchewan what we’ve been seeing is the very dry conditions coupled with guys reporting frost and we’re reseeding canola, you’ve got flea beetles. There are all kinds of things going on right now,” Howden said. “We’re very aware of what the impacts are.”

Howden said the recent rains were very well received but livestock producers are going to be feeling the effects of the dry spring for a while.

“There are reports it will be too late for many of them. The pastures aren’t in the state to put their animals on. We’ve had reports of guys having to feed their cattle already,” Howden said. “With this rain many are saying with their hay crop they may be able to get something in the near future but it’s been just an unbelievable year from coast to coast with just about every challenge you could have thrown at you has been thrown at our producers.”

Howden says FCC doesn’t get too excited when these issues come up as it’s part of the business and they look at each file on a case by case basis. He said communication is important.

“In some cases we’re able to just simply help by deferring some principal payments and in other cases it depends on what the situation looks like,” Howden said. “Really putting a whole package together and restructure some things or take a look at refinancing.”

“My advice has always been to producers, whether you deal with FCC or another financial institution, is the sooner you get in to talk to your lender the more options you have and the more flexibility we have to put something together that’s going to work for you.” Howden said.

alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF

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