Agri-Roots Capital Management, a Chatham-Kent based private equity fund has partnered with Vancity Community Investment Bank to support Canadian farmers.
The two have put up a $9 million credit facility which will provide loans between $250,000-$1,500,000 for small and medium sized farms. Robb Nelson, AgriRoots Capital Management CEO says what they offer is unique, they are the only ones to offer it in the country.
“There was no organized, what we call Tier 2 lenders, meaning we’re in-between the banks and a private lender would lend over. What we do is we manage the client back to a traditional credit union or bank.” said Nelson.
Nelson added this fund is crucial for farmers due to rule changes from banks where farmers wouldn’t be able to get support due to depository rules.