Financing Programs

Farm Credit Canada Financing Program

The main features of this program are:

Purpose of Loan
All crop inputs purchased from M&R Feeds and Farm Supply (Micksburg-Pembroke-Shawville) can be financed including seed, fertilizer, pesticides/herbicides and agronomic services.

Payment Terms

• Purchases for crop inputs planted and harvested from now until August 31, 2022 are not due to be paid until March 2023 (crop inputs for 2021 crop are due March 15, 2023).
• The loans are fully open and may be repaid and re-used during the program year without notice or penalty.
• The loan program allows you to take advantage of early order and early pay discounts that give more savings than “interest free” programs.

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.

Annual Re-approval
Loans less than $250,000 remain in place from year to year without the need to reapply providing that payments are made as agreed on all FCC loans and there is no material change in the customer’s credit bureau score.

We can assist you in filling out the application. M&R Feeds submits the application and a quick (2-day) return is expected.

Extended Terms Financing

FCC Financing Example

Farm Credit Canada Financing Brochure

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 1, 2022 and March 31, 2023 a minimum of 2 payments are required; the first by January 20, 2023 and the second by March 20, 2023. Each of these two payments must be at least 25% of the outstanding balance of your account as of December 31, 2022. (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