Agricultural Lines of Credit

Manage the day-to-day finances of your farm or agricultural operation with Meridian's Line of Credit. Use your credit facility to deal with seasonal fluctuation in cash flow or to cover day-to-day farm operating expenses, including the purchase of feeder livestock, seed, fertilizer, feed, and the cost of repairs and maintenance costs and other living costs.

Key Business Benefits

• Only pay interest on the actual dollar amounts that are borrowed
• Deposits made to your Meridian Business Chequing Account are credited directly to the outstanding balance on your Revolving Line of Credit which reduces the amount of interest you pay monthly
• Competitive floating interest rate tied to Meridian's prime lending rate
• Once the line of credit amount is approved and set up on your Business Chequing Account , funds can be accessed immediately for whatever amount you require (within the approved limit) – no need to contact us when you need the funds
• Spend less time monitoring your daily cash flow

Key Features

• Interest is calculated on the closing daily balance and charged at the end of the month
• Credit limits are based on your business' borrowing needs
• Access your Line of Credit by writing a cheque against your Business Chequing Account, through on-line or Telephone Banking
• A monthly statement provides a consolidated view of your account activity for ease of record-keeping

Agricultural Loans

Meridian's Agricultural Loans are designed to help you grow your farm business. Use your Loan to finance the purchase of farm machinery and equipment and improvements to farm buildings and structures. With an Agriculture or Farm Loan you can expect innovative solutions, competitive interest rates and flexible repayment terms.

Key Business Benefits

• Choose either a fixed interest rate or a variable interest rate tied to Meridian's prime lending rate
• Flexible repayment terms to offer your business manageable scheduled payments
• We'll work with you to customize a principal repayment schedule that best suits your cash flow needs
• Payments are automatically deducted from your Business Chequing Account on the payment due date
• Monitor your outstanding loan balance and payments through Meridian's on-line and telephone banking services

Ask the Experts

To find out more, contact or visit your local Meridian branch or call our Quality Contact Centre at 1-866-592-2226.