Individual producers can now receive support
By Diego Flammini
Rabobank is changing the way it conducts business with farmers in Canada.
Rabobank Canada opened in 1997 as a corporate bank and services around 40 customers, some who are the largest food and ag producers in the country.
But as of Jan. 10, individual farmers, ranchers and primary producers can receive financing solutions from Rabobank.
“The biggest thing farmers need to know is that they have options,” Roxane Lieverse, head of Canada Agricultural Banking with Rabobank, told Farms.com. “The way that finance has been administered to farm customers for the last 20 years has lacked innovation and forward thinking approaches. Customers who want to think about their farm finances outside of the context of what’s always been done are going to find the Rabobank financing solutions a little bit more interesting.”
Roxane Lieverse (LinkedIn photo)
Farmers will be able to receive lending from Rabobank for items like loans, land and equipment purchases. Financing solutions around sustainability are planned for the future, Lieverse said.
One way Rabobank will set itself apart from other financing businesses, Lieverse says, is the way Rabobank starts from a different perspective.
While many customers may think about goods and services when financing an operation, Rabobank starts with a global picture, she said.
“When we meet with customers, we start from the perspective that our customers are global customers and are impacted as much by global trends and events as they are by domestic trends and events,” Lieverse said. “From that point, the financial solutioning is created to address local issues and has appreciation for the ups and downs of the market.”
Rabobank started accepting customers on Jan. 10.
The consensus from producers is excitement, Lieverse said.
“Farmers feel that Canadian banks have largely stagnated and haven’t provided innovative solutions to support their operation long term,” she said. “Customers are looking for something different and we’re looking to grow agriculture in Canada.”