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La Financière agricole du Québec

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La Financière agricole du Québec Implements New Measures to Support Agricultural Producers

La Financière agricole du Québec has one single mission: to foster the development of the agricultural and agri-food sector. This role takes on its full meaning during difficult times. Accordingly, we are immediately implementing exceptional measures to support agricultural producers through the crisis.

  • We are offering a six-month moratorium on loan repayments to all La Financière agricole clients who request it. This payment holiday period will lighten business obligations and provide liquidity for the coming months.
  • For the Crop Insurance Program, the enrolment date is extended from April 30 to May 21, 2020, and notices of assessment are extended from June 1 to July 1, 2020.

Moreover, La Financière agricole would like to remind its clients of the following:

  • Interim AgriStability payments are available. Producers facing financial difficulties can apply to receive these payments quickly.
  • For the Farm Income Stabilization Insurance Program, notice of assessments will not be sent before July 1. In addition, final payments for the 2019 insurance year will be made in April for the cattle and pig sectors and in May for the sheep sector, as scheduled. The second advance for cereal and canola compensation will be paid in April.

It is important for the government to be as flexible as possible in the current context. The moratorium on the repayment of loans guaranteed by La Financière agricole du Québec will allow producers to maintain the liquidity they need to get through this period of crisis. I would like to remind members that the risk management programs offered by La Financière agricole will help limit the negative consequences of the current situation.”

- Mr. André Lamontagne, Minister of Agriculture, Fisheries and Food

La Financière agricole does everything it can to meet its clients’ needs. The announced adjustments to its programs demonstrate its ability to adapt. We reiterate that programs remain in place and that services are being maintained. If you have any questions, please do not hesitate to contact your advisor or nearest service centre by telephone or email.”

- Mr. Ernest Desrosiers, President and Chief Executive Officer of La Financière agricole du Québec