Individual and joint membership loans are being increased within Alberta’s Feeder Associations Guarantee program, the provincial government has announced. Producers will now be able to access $2 million versus the previous $1 million limit, under the guaranteed loan program. Announced changes also allow an increase in the amount member associations can receive in advance, based on… Read More
Category: Finance
In mid September, the federal government announced the list of prescribed regions eligible for drought-related livestock tax deferral. The break was welcomed, however ranchers and producer groups criticized the government’s approach, saying it left out too many drought-affected producers. Announced October 31st, the federal government says it is taking steps to answer some of that… Read More
Financial planning and management of your farm business is a year-round activity, but just after harvest is an ideal time to take stock, review where you’re at, and begin planning for next year. I think many times in any small business we are energetic on the planning, but fall flat on the follow up at… Read More
Ever since the great recession of 2008, interest rates have been ‘abnormally’ low. Although there has been noise about rising interest rates, the economic argument has been weak. But the economy is getting stronger, and along with that the argument to raise interest rates is also getting stronger. In this interview RealAg Radio host Shaun… Read More
There is not a farm in North America that would refuse a major influx of cash if it was awarded to them. There’s cash to get you by, and then there is generational, life-altering cash. This week, the United States Powerball jackpot reached $1.5 billion, and the winning ticket was printed in South Carolina. It… Read More
Farmers are all about efficiency and productivity as they keep their eyes on profitability. It’s a real accomplishment to make sure you have the right size of equipment for the task at hand. With the cost of machinery and rising interest rates in 2018, this calculation has become even more critical for managing capital purchases… Read More
It seems like a foregone conclusion, but the Bank of Canada is expected to raise interest rates Wednesday. The market is expecting a 25 basis point hike to 1.75%, which would be the fifth increase since July, 2017. Bank of Canada Governor Stephen Poloz will address the Canadian economy that’s been tempered in the past… Read More
Capital assets don’t buy groceries. If this statement makes you scratch your head a little, you’re likely the older generation on the farm. If you read it and think, “Don’t I know it” you might be the in-coming generation, and very likely frustrated by the lack of clarity on how the farm’s equity and income… Read More
Citing a strong industry, but a shrinking demographic, BMO Bank of Montreal has introduced its new loan program for Canadian farmers 35 years or younger. The BMO Young Farmer program offers is aimed at helping both the person who’s already in the industry and for those who are choosing to get into agriculture, with loans of up… Read More
Although not a common practice for most farmers, a lawyer is urging more farmers to consider consulting their legal advisor prior to purchasing pricey farm equipment. This advice comes after one Saskatchewan farm lost their legal battle and appeal against an ag dealership. In this specific case, James and Merrylyne Coward claimed the dealership they bought… Read More