Ontario – BMO today announced that it has launched a financial relief program to farmers in Ontario and Quebec affected by the adverse weather events impacting producers this year.
“A late, wet spring combined with a cooler summer led to immature crops for many farmers; this was followed by difficult harvest conditions and highlights localized challenges farmers have faced this year,” said Adam Vervoort, Head of Agriculture Financing, BMO Bank of Montreal. “As an institution, we’ve been supporting farmers for over 200 years and understand the importance of agriculture to Canada as a whole. We hope this program will help to alleviate some of the challenges that producers in Ontario and Quebec have been facing.”
The program offers eligible farmers the ability to defer loan principal payments scheduled from December 16, 2019 to the end of next year in order to relieve pressure on cash flow.Source : BMO