It’s no secret that farming comes with good and bad years. From dramatic weather to sagging commodity prices to challenges in getting product to market, farmers throughout the province are used to having their resilience put to the test.

Unfortunately, the resilience test can extend through the winter and spring. Harvesting expenses and drying costs can escalate when the weather doesn’t cooperate. Additionally, shipment delays, insurance claim delays, and low crop quality can negatively impact cash flows. Sometimes Alberta farmers are planning out the next year long before all the bills are collected and paid from the previous year.

If this sounds all too familiar and you’re feeling stressed about finances, it’s a good time to meet with your financial advisor and/or relationship manager to discuss your options. Because there are options. And the sooner you meet, the more options you’ll have.

David Hirch, Managing Director, Agriculture at ATB Financial agrees. “Absolutely, reach out to us so we can have a conversation with you and start to look at your financial situation,” shares Hirch. “You’re not alone and the best thing you could do is talk with your relationship manager. We want to listen to your individual challenges, as it relates to cash flow in particular, and see what we can do to get through this season and get into the next. This could include a discussion about our new payment deferral program.”

A strategic financial conversation could help you minimize the repercussions that came out of this year’s growing season while also helping you free up operating cash for spring inputs. The development of a farm business strategy can make all the difference between surviving a challenging year, driving one good year and establishing a long-term trend of growth and success. Just because you’re an independent business owner and operator, doesn’t mean you’re alone. A good financial partner will assess your current situation and help find immediate solutions in the short term while also developing an action plan to position the business for greater success.

Knowing you’re able to draw on ATB’s expertise could help you understand and act on opportunities when they become available. And that’s what ATB is all about, providing ways for Alberta businesses and farmers to evolve and thrive.

If you need help getting in touch with your relationship manager, contact our Agriculture Centre of Expertise.