Farm Debt Mediation Service
Last Update: January 24, 2025
Canada
Financial counselling and mediation for farmers in financial difficulty.
Farm Debt Mediation Service at a glance
Eligible Funding
- No Condition
Timeline
- Continuous Intakes
Financing Type
Expert Advice
Eligible Industries
- Agriculture, forestry, fishing and hunting
Grant Providers
- Agriculture and Agri-Food Canada (AAFC)
- Government of Canada
Status
Open
Overview of the Farm Debt Mediation Service program
Are you a farmer having trouble meeting financial obligations? Access free and confidential mediation services where you and your creditor(s) meet together with a neutral third party who can help you reach a mutually acceptable solution.
Eligible projects & activities
The Farm Debt Mediation Service focuses on providing financial counselling and mediation for farmers facing financial difficulties. This service aims to create a neutral platform where farmers and their creditors can come together to find mutually acceptable solutions.
- Facilitating financial counselling services for farmers.
- Providing mediation between farmers and creditors with a temporary stay of proceedings.
- Offering mediation services without a stay of proceedings for farmers and creditors.
- Assisting in the development of a farmer's recovery plan in consultation with a financial expert.
Examples of admissible projects:
$ 13,000
Developing a comprehensive financial recovery plan for family-run apple orchards
$ 18,000
Financial counselling for dairy farmers to develop customized recovery plans
$ 9,000
Financial counselling and mediation for small-scale poultry farmers
$ 9,000
Financial counselling for struggling corn farmers to manage debt
$ 10,000
Meeting with creditors and mediators for livestock farmers facing bankruptcy
$ 6,500
Mediation services for organic vegetable farmers facing debt issues
Eligibility criteria of the Farm Debt Mediation Service program
Eligibility for participating in the Farm Debt Mediation Service is based on the applicant's status as a farmer facing financial difficulties.
- The applicant must be a farmer experiencing difficulties meeting their financial obligations.
- Participation is voluntary and requires agreement from both the farmer and their creditor(s) to engage in mediation.
Who is eligible?
Eligible individuals for the Farm Debt Mediation Service are farmers who are encountering difficulties in meeting their financial obligations. This service caters specifically to individual producers facing financial distress, offering them financial counselling and mediation to facilitate discussions with their creditors.
Who is not eligible
This program is designed to support farmers facing financial challenges. Specific types of companies and industries ineligible for this program are not detailed in the provided context.
Eligibility criteria of the Farm Debt Mediation Service program
There are evaluation and selection criteria for this grant. The criteria include:
- Financial need and viability of the proposed recovery plan
- Farmer's ability and commitment to implement the plan
- Good faith participation in the mediation process
- Willingness to negotiate and reach a mutually acceptable solution
How to apply to the Farm Debt Mediation Service program
1
Prepare Documentation
- Gather all relevant financial documents that pertain to your current financial obligations and status.
- Ensure all creditor information is accurate and up to date.
2
Contact FDMS
- Reach out to the Farm Debt Mediation Service for an initial consultation.
- Discuss your situation with a representative to understand the process.
3
Application Submission
- Submit your application for mediation services, including all necessary financial documents.
- Choose between Section 5(1)(a) or Section 5(1)(b) depending on your needs regarding the stay of proceedings.
4
Assignment of Financial Consultant
- A qualified financial consultant will be assigned to your case to assist in the mediation process.
- Work collaboratively with the consultant to develop a recovery plan tailored to your needs.
5
Attend Mediation Meeting
- A meeting will be scheduled with you, your creditor(s), and the mediator to discuss the plan.
- Negotiate terms that are beneficial and acceptable to all parties involved.
Additional information
Here are additional relevant details for this grant:
- The mediation service is voluntary, private, and confidential.
- A neutral forum is provided to facilitate discussions between farmers and creditors.
- Two sections define the mediation options: one includes a stay of proceedings, and the other does not.
- The majority of cases result in a signed agreement between the parties involved.
- A qualified financial consultant is provided to assist and guide participants through the process.
Apply to this program
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