Saskatchewan Wheat Pool and Farm Credit Canada have joined forces to
offer prairie farmers a new crop input financing option.
Under the program, which is available immediately, farmers who buy
their inputs from the pool will have access to FCC credit for a full
crop cycle.
Once FCC approves a loan, producers may draw against it at any time
during the crop year. The loan is due and payable on Jan. 31 after
harvest. Interest charges begin at the date of the first purchase
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against the loan.
This flexibility allows producers to schedule payments around their
cash flow.
“Through this innovative program we are providing an important option
to prairie producers for financing inputs in the coming crop year,”
said John Ryan, FCC president and chief executive officer.
“Producers have been asking for programs that are responsive to the
day-to-day management of their operations, and this program is targeted
to address their needs.”
Pool CEO Mayo Schmidt said the program is an example of how innovative
alliances increase value to customers.
“We recognize that crop input financing is important to farmers,” he
said.
“Through FCC, we are able to offer this service at a more competitive
rate than previously available.”
Loan applications will be handled through the pool and AgPro outlets.
