Farm Credit Canada (FCC) will offer Manitoba producers affected by the wet spring planting conditions flexibility on payment options, a May 25 news release said.
“Widespread flooding along the Red River, combined with heavy rain that recently blanketed parts of western Manitoba, has not only forced the evacuation of some communities, but has also disrupted some farm operations during this critical planting season,” Shannon Weatherall, senior vice-president of FCC’s Prairie operations, said in the release. “We want to assure customers who find themselves financially vulnerable as a result of these circumstances that FCC will work with them to explore all options for addressing any short-term cash flow problems.”
The release said FCC will consider short-term credit options, deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressures on producers affected by the flooding. The Crown corporation will also offer flexibility and a combination of options based on the individual needs of its customers, since each farm financial situation is unique.
Customers affected by flooding are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at (888)332-3301 as soon as possible to discuss their individual situation and options, the release said.