Over $9.1 million in early subsidies for farm businesses
To support farm businesses through the pandemic, La Financière agricole du Québec will be issuing its investment grant payments early for the second time this year. This move will allow farmers to use the funds more quickly to keep their operations running. “La Financière agricole has been closely following the situation of farm businesses in Quebec since the start of the crisis and is taking a flexible approach to help them maintain all operations and continue with their plans for growth. We are a front-line organization for preserving the economic and financial stability of farm businesses. It’s essential that we fully and diligently serve our role in this regard.”
— M. Ernest Desrosiers, CEO, La Financière agricole
In concrete terms, this means $9.1 million will be paid out to over 5,000 businesses on November 1, 2020 rather than December 1.
The following programs are affected by this announcement:
- Growth Investment Program — established on April 1, 2020
- Support for Québec Farm Business Development
- Support for Diversification and Regional Development
- Program to Support Funding of Animal Welfare and Energy Efficiency Investments
A similar advance payment was made in spring 2020, with $6.2 million being paid out to 3,364 clients on May 1 rather than June 1.
This initiative from La Financière agricole is part of the suite of support measures to help clients through the crisis triggered by the COVID-19 pandemic; it is also in keeping with the economic recovery measures announced by the Quebec government. To read about what we have been doing to respond to the situation since March, with respect to financing, insurance, and income protection, visit the website at https://www.fadq.qc.ca/