Farm Credit Canada will invest in alternative lender Farm Lending Canada to expand its offerings to farm succession and transition lending and supports.
“The changing global landscape has put a great deal of stress on the men and women who put food on our tables,” said Robb Nelson, chief executive officer of FLC in a news release.
“With this capital, we will now be able to expand our existing loan portfolio and increase our ability to help Canadian farmers.”
In an interview, Nelson said the FCC investment was “significant,” but said he was unable to give a dollar figure.
Since 2019, FLC has provided financing to Canadian farming operations in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan that may not have access to traditional lending options.
“We bridge them back to mainstream financing,” Nelson said.
FLC works with other lenders and farm advisors to make a plan with the borrowers to reach a more stable financial position, he explained.
Read the full article here: FCC funds alternative lender to expand portfolio to farm transition, succession supports | Farmtario
Source: Farmtario
