Farm Credit Canada is releasing information about Ottawa’s $5-billion farm support package as part of efforts to combat COVID-19.
FCC President Michael Hoffort says struggling farmers can apply for a deferral of loan payments for six months or a deferral of principal payments for a year.
Hoffort says another option is access to an additional credit line of up to $500-thousand.
Hoffort says prairie farmers have 3-million acres of crop in the field this winter and have faced grain movement disruptions.
Hoffort says the support is designed to offer financial flexibility as farmers face challenges like a late harvest, spring seeding and COVID-19.
