Farm loan employees at the U.S. Department of Agriculture's Farm Service Agency will now need approval from billionaire Elon Musk's Department of Government Efficiency to issue loans over $500,000, according to a memo seen by Reuters on Wednesday.
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US farm agency to require DOGE approval for some loans
The USDA offers loans to farmers who struggle to get credit from traditional lenders
Farm Credit Canada funds alternative lending company
Farm Credit Canada (FCC) pledged up to $60 million to Glengarry Farm Finance Corporation to provide financial backing to farmers with credit issues, the firms announced yesterday.
Ag lending in crossfire of Bill S-243: industry
Banking sector says act would kneecap current climate efforts, add to crowded reporting environment
A coalition of 17 major farm groups is opposing a bill that would tie the decisions of lending institutions to Canada’s climate goals. The Agriculture Carbon Alliance, which pushes for recognition of farm sustainability, argues that Bill S-243 could lead to higher borrowing costs and more red tape for farmers. Why it matters: The push for farm sustainability, and the red tape needed to prove
FCC offers new credit line against ‘current economic environment’
Ag lender to waive loan processing fees
Farm Credit Canada’s recent outreach to specific agrifood sectors hit by unusual environmental conditions has now extended to those hit by the broader “economic environment.” The federal ag lender on Tuesday said it will offer an unsecured credit line of up to $500,000 with loan processing fees waived, “to help producers, agribusinesses and agri-food operations
Rabobank to offer Canadian farm-level lending
Dutch co-operative bank's Canadian arm to loan directly to farmers, starting on Prairies
Updated — A global financing firm operating at higher altitudes in Canada’s food and agrifood sector now plans to expand its business down to the farm and ranch level. The Canadian arm of Rabobank — an Amsterdam-based farmer co-operative lender, providing banking, leasing and real estate services in more than 38 countries — announced Tuesday
Put the cash advance to work in your marketing plan
The APP can give you the flexibility to plan commodity sales and optimize the prices you receive
In the world of business, different strategies often create synergies where one plus one can equal three. Of course, the same is true for farming. There are many agronomic strategies that are used together from advanced seed genetics, to crop rotation and variable-rate fertilizer applications, to tile drainage or irrigation pivots and the list goes
Alberta ag lender drops rural business loans
AFSC not taking new applications for program
A program offering term loans to small- and medium-sized businesses in rural Alberta is off the provincial ag lending agency’s menu. Alberta’s Agriculture Financial Services Corp. (AFSC) announced Thursday it had discontinued its Rural Business Loan Program effective immediately, so as to “concentrate its efforts on agricultural producers and agribusinesses.” The decision means no new
Manitoba to consolidate and shut agriculture, MASC offices
Province announces 'new rural service delivery model'
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
BMO regroups ag banking business
Ag-focused national banking team put in place
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
Cash advance repayment deadlines extended
FCC gets added capital to boost lending capacity
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
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