Farm Credit Canada Financing Program 
M&R Feeds has teamed up with Farm Credit Canada to make available a revolving credit line with extended terms of repayment. This program is for crop inputs exclusively purchased from M&R Feeds and Farm Supply (Micksburg-Pembroke-Shawville) and is available to producers in Ontario and Quebec. Crop inputs include seed, fertilizer, pesticides/hericides and agronomic services.
Why Choose FCC Financing?
Because you'll get more than financing. FCC builds relationships, shares knowledge and supports agriculture and food entrepreneurs. They are a partner, a catalyst and an innovator like you. For more details, contact FCC at 1-888-522-2555 or visiit Input_Financing | FCC
Features:
- Flexible, dedicated financing for input purchases offered by FCC - the agriculture experts
- No hidden administrative costs
- Make only one payment per year (March 15) or prepay without penalty whenever you want
- Loans under $100,000 are unsercured, loans over $100,000 are GSA secured
- Simple approval process and automatic renewal every year
- Retailer helps keep your payments current safely and securely
- Tems up to 18 months (see crop year cycle)
Crop Year Cycle
Take advantage of this longer crop cycle and make your input purchases early at a discounted price.
Interest Rate
Loans will bear a “variable rate” of interest equal to the prime rate plus 2.95%, calculated daily, not in advance, and compounded annually.
Loan Amount
Minimum loan amount is $5,000.00; maximum is considered on an individual basis.
We can assist you in filling out the application. M&R Feeds submits the application and a quick (2-day) return is expected.
FCC Financing Example
M&R Feeds Crop Input Financing
We have teamed with a chartered Canadian bank to make available a Credit Line for Agriculture with revolving credit exclusively for inputs purchased at M&R Feeds. This program is currently available to Ontario residents only.
There are several features that make this program stand out from other financing options.
- All crop inputs purchased from M&R Feeds can be financed, including seed, fertilizer and pesticides.
- No payments are required during the growing season providing you stay within the authorized limit.
- No new application is required each year due to its revolving nature, as long as repayment conditions are met.
- No annual administration fee or chequing fees.
- Revolving line of credit up to $250,000. Unsecured credit line up to $50,000.
- Better than ‘interest free’ programs, this credit line allows you to take advantage of early order and early pay discounts that give you more savings than ‘interest free’ programs.
- Interest rate is Prime + 2.95% for approved limits up to and including $200,000 or Prime + 1.95% for approved credits greater than $200,000.
- Payments can be made at anytime throughout the year as cash flow is available.
- Between November and March a minimum of 2 payments are required; the first by January 20 and the second by March 20. Each of these two payments must be at least 25% of the outstanding balance of your account as of December 31. (Inputs purchased for planting in the spring of 1 year must be 50% paid for by March 31 of the following year.) Payments should be made to fully revolve the account before next year’s purchases.
- The application is simple and approval is known quickly, typically within 72 hours.
We can assist you in filling out the application.
Crop Input Financing
