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La Financière agricole
du Québec
20 ans, historique de La Financière agricole du Québec
La Financière agricole du Québec
20 ans, historique de La Financière agricole du Québec

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News room

COVID-19 : Announced Measures for Producers

Updated on January 25, 2021

Following is a presentation of the support measures implemented to assist you through the crisis caused by the COVID-19 pandemic.

What are the insurance and income protection measures?

  • Emergency On-Farm Support Fund measures:
    • $7.5 million in financial assistance to support agricultural businesses that implement measures to protect the health of their employees from COVID-19.
    • Assistance towards eligible expenses incurred between March 15, 2020 and February 26, 2021.
    • Opportunity to apply until February 26, 2021.

The following activities have been completed:

  • AGRI Programs:
    • The date for filing financial information without penalty is postponed.
      • This deferral applies to producers whose period for filing their financial information is between March 15 and September 30, 2020. The filing deadline to be eligible for the AGRI programs is still 12 months from the end of the fiscal year.
  • AgriStability:
    • Interim payment increased from 50% to 75% of the program's benefits.
  • AgriStability:
    • The deadline to apply and make contribution payments was postponed to July 3, 2020.
  • Crop Insurance Program:
  • Farm Income Stabilization Insurance Program:
    • No notice of assessment were sent before July 1, 2020.
    • Final payments for the 2019 insurance year were made in April 2020 in the cattle and hog sectors and in May 2020 for the sheep sector, as scheduled.
    • The second advance for cereal and canola compensations were paid in April 2020.

What are the financing measures?

The various financing activities we have carried out are as follows:

  • Advance payment of grants for investment programs to November 1:
    • $9.1 million was paid to over 5,000 businesses on November 1, 2020, rather than December 1.
      The programs in question are the
      • Growth Investment Program.
      • Support for Québec Farm Business Development Program.
      • Support for Diversification and Regional Development Program.
      • Support Funding of Animal Welfare and Energy Efficiency Investments Program.

  • Advance payments of grants for investment programs to May 1
    • 7$ million was paid on May 1, 2020, rather than June 1.
      The programs in question are the
      • Support for Québec Farm Business Development Program.
      • Support for Diversification and Regional Development Program.
      • Support Funding of Animal Welfare and Energy Efficiency Investments Program.
  • Possible six-month moratorium on loan repayments. This measure ended on December 31, 2020:
    • The moratorium is being introduced for businesses facing temporary financial difficulties.
    • You must apply with your financial institution, through your account manager. They should be able to explain the various terms and conditions to you. Your FADQ advisor can also help you through this process.
  • Loans of up to $50,000 to support cash flow. This measure ended on October 31, 2020. However, should you have financing needs, we encourage you to contact your FADQ financing advisor to find a suitable solution.

Please refer to our Frequently Asked Questions for any further questions you may have regarding COVID-19.