Regina, Saskatchewan, May 13, 2022 – Farm Credit Canada (FCC) is prepared to work with customers concerned about financial hardship due to the impact of avian influenza, a devastating disease for poultry operations.
“We are monitoring the situation closely and talking with our customers to let them know we are prepared to help them overcome any short-term financial issues that might arise as a result of this highly contagious and deadly bird flu,” said Michael Hoffort, FCC president and CEO. “That’s why we’re offering flexibility for customers experiencing financial pressure as a result of avian flu.”
To date, the virus (H5N1) has been detected in several poultry farms across Canada. This affects live birds, bird products and by-products impacting chicken, turkey, ducks and egg sectors, as well as poultry input suppliers and processors. FCC is prepared to help customer poultry operations directly affected by the disease or by bans placed on farms in the proximity of infected farms, which could potentially lead to cash flow problems.
FCC will consider additional short-term credit options, deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressures on producers impacted by avian flu. FCC will also offer flexibility and even a combination of options based on the individual needs of its customers, since each farm financial situation is unique.
“We are ready to help our customers through these circumstances that are beyond their control,” Hoffort said. “By working together, we can all play a part in helping poultry producers overcome this challenge. It’s the right thing to do.”
Customers impacted by avian flu are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at 1-888-332-3301 as soon as possible to discuss their individual situation and options.
FCC is Canada’s leading agriculture and food lender, with a healthy loan portfolio of more than $44 billion. Our employees are dedicated to the future of Canadian agriculture and food. We provide flexible, competitively priced financing, AgExpert management software, information and knowledge specifically designed for the agriculture and food industry. As a self-sustaining Crown corporation, we provide an appropriate return to our shareholder, and reinvest our profits back into the industry and communities we serve. For more information, visit fcc.ca.