GFM Network News

Manitoba to consolidate and shut agriculture, MASC offices

Province announces 'new rural service delivery model'

Reading Time: 3 minutes Updated, Jan. 7 — Manitoba’s agriculture and resource development department and crop insurance and ag lending agency will close their offices in 21 communities and consolidate others this spring, in a bid to reduce their “physical footprint.” Agriculture Minister Blaine Pedersen on Wednesday announced what the province billed as “a new rural service delivery model […] Read more

BMO regroups ag banking business

Ag-focused national banking team put in place

Reading Time: 2 minutes With COVID-19 serving to “accelerate” changes in the industry, BMO Bank of Montreal says it has reset its farm banking work under the oversight of an expanded national agriculture and agribusiness banking team. BMO announced the new team approach Oct. 14, describing it as “a national team of agriculture banking specialists — team members with […] Read more

Cash advance repayment deadlines extended

FCC gets added capital to boost lending capacity

Reading Time: 3 minutes Canadian farmers who have repayment deadlines coming up on their cash advances between now and the end of April will get extra time to repay those loans. The federal government on Monday announced a stay of default on loans coming due on or before April 30 under the Advance Payments Program (APP), among other measures […] Read more

A stockman rides his horse as he leads another down a road towards the cattle yards in the outback town of Windorah, Queensland, Australia. The Australian agriculture sector says lenders need more oversight and better understanding of the ups and downs of agriculture.

Australian banks face rural lending reckoning

Agriculture borrowers say banks need a shorter leash and call for a compulsory farm debt mediation system

Reading Time: 3 minutes Reuters – Australian potato farmer Tom Fox says he had never missed a bank payment in two decades before a delay sending a shipment to Indonesia during a trade dispute between the countries prompted his lender to force him into receivership in 2013. “I got a letter from the bank lawyers saying I had 12 […] Read more

It’s called FarmWorks

This innovative investment fund is creating a new model for getting financial help into the hands of farmers who can make a difference

Reading Time: 6 minutes One of the highest tides in the world enters Jennifer and Kevin Graham’s front yard twice a day. Their 30-acre farm near the seaside village of Kingsport, N.S., runs down to the Minas Basin, an inlet of the Bay of Fundy. This area, like the entire stretch of the Annapolis Valley, is peppered with farms […] Read more

Financing proposals — what to take to the bank

AME Management: Provide the essential information to your lender so they can better understand your business and assess your "ask"

Reading Time: 3 minutes In farming, where access to adequate financing is key to success, lender relationships can’t be ignored. Nor can you neglect your approach to your annual review meeting with your lender. This is an important management function that needs focus. How can we best manage those relationships and your annual review for long-term positive outcomes? “Lending […] Read more