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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Farms & Agriculture

Our understanding and appreciation of Canadian agriculture dates back to 1817 when we began working with farmers. Because of this experience we know your farm is more than just a business – it’s a way of life. Our specialists can recommend the customized loan and deposit solutions that can help you grow on your terms and harvest the benefits of your work.

AgriInvest Account

Opening a BMO AgriInvest Account is a smart way to take advantage of government matching contributions under the AgriInvest Program that can help reduce your business risk or help you invest for the future. To open your account, bring in your original government issued AgriInvest Account Initiation Form.

AgriInvest Program

Protect your margin from small income declines, improve productivity and invest for the future by opening an AgriInvest Account. Simply open the account with BMO to make your contribution and receive your matching government contribution1 up to the maximum permitted amount to help you in your business investments.

The Government cap on contributions
For AgriInvest purposes, eligible participants are limited to ANS of $1,500,000 per year. Based on this limit, the largest matching government contribution would be $22,500.

Sample Calculation:
Allowable net sales are equal to your total sales of eligible commodities minus your total purchases of eligible commodities. For example, sales of canola minus purchases of canola seed
2010 Eligible Sales: $180,000
2010 Eligible Expenses: $100,000
2010 Allowable Net Sales = $80,000
X 1.5%
2010 Maximum Matchable Deposit = $1,200

1Subject to program guidelines and qualification, for more information about the AgriInvest Program call 1-866-367-8506 or visit www4.agr.gc.ca

Agri ReadiLine® Line of Credit

Whether you need to buy feed, seed or other farm inputs, purchase equipment, install green power systems or simply cover daily expenses, this pre-arranged, mortgage-secured line of credit can provide the single, convenient financing solution you need.

Convenient, flexible features:

  • Access both an operating line of credit and a variety of loans, secured by your farm land
  • Eliminates the need to apply for a loan each time you need financing1
  • Interest rate can be floating or fixed with terms up to 10 years2 and amortization periods up to 25 years
  • Flexible repayment schedules ensure manageable payments

1 Subject to meeting Bank of Montreal’s usual credit granting criteria.
2 Fixed rate portions only.

Canadian Agricultural Loans Act (CALA)

Whether you need to make land or building improvements, purchase breeding livestock or additional land, make equipment repairs or consolidate debt, this program can help you acquire capital assets for your farm.

Convenient, flexible features put you in control:

  • Qualifying farmers can receive up to 80 % financing (90 % for beginning farmers) to a maximum of $ 500,000 for farmers; and $ 3 million for cooperatives1
  • Interest rate can be floating or fixed (with the option to fix a floating rate at a later date)
  • Competitive interest rates that you can lock in for up to 45 days before the drawdown date
  • Fixed rate loans may be transferred to floating rate at the end of the term.
  • Depending on your cash flow, choose monthly, quarterly, semi-annual or annual payments2

1Subject to meeting Bank of Montreal’s usual credit granting criteria.
2There is a federal government administration fee payable on each loan application.

Dairy Farms

Whether your dairy farm financing needs are short or long term, our customized financing solutions1 cover virtually all of your requirements for cash or credit. We recognize the value of your key assets – from land and equipment to livestock and quota – to make sure you get the financing you need.

1 Subject to meeting Bank of Montreal’s usual credit granting criteria.

Farm Equipment ReadiLine®

If you need to buy new or used farm equipment without delay, this pre-arranged line of credit – separate from your general operating line – could be the answer.

Convenient, flexible features:

  • Eliminates the need to apply for a loan each time you purchase equipment1
  • Interest rate can be floating or fixed (with the option to fix a floating rate at a later date)
  • Flexible repayment schedules ensure manageable payments

1 Provided you are within your pre-authorized limit.

Farm Mortgage

Need to reorganize farm debt, purchase farm land or make improvements to your existing property? A Farm Mortgage, with its flexible payment options, terms and competitive rates, could make all that possible, and more.

Convenient, flexible features put you in control

  • It’s your choice: fixed interest rates are available for 1 - 5, 7 and 10-year terms, with an amortization period of up to 25 years1
  • Depending on your cash flow, choose monthly, quarterly, semi-annual or annual payments on fixed-rate commercial mortgages
  • Variable rate options are also available
  • Competitive low interest rates
  • Once a year, enjoy the no-fee, no-penalty option of prepaying up to 10 % of the original principal, or bumping up your mortgage payment (blended principal and interest) by 10 %

1 Subject to meeting Bank of Montreal’s usual credit granting criteria.

Agriculture Affinity Cards

Looking for ways to make a positive contribution to the agricultural community? BMO has a selection of personal credit cards that support agricultural organizations. Every time you use these cards, BMO contributes to the organization at no additional cost to you.

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