How Nutrien Financial Can Help When Bad Turns to Worse

Posted September 20, 2023 | By: Liz Schmidt

Finances are tight for a lot of us right now, whether we run a farm or not, but for growers who depend on their crops’ success to make ends meet, finances can be particularly stressful. At Nutrien Financial, we want everyone to succeed, and we are here to help you navigate the input financing needs of your business in conjunction with your cash preservation goals. We also provide extended support when times are especially tough, and you need payment assistance or additional payment plans.

The Mental Impact of Inflation and Rising Costs

Finances are one of the top sources of stress for Canadians. With inflation, increased interest rates and rising costs overall, it’s no wonder some of us are losing sleep over money. Financial stress is listed as one of the top stressors of 2023 in the FP Canada 2023 Financial Stress Index, with 40% of those surveyed citing money as a leading source of stress. For growers, add concerns about the weather, family dynamics and the general workload of farming to the mix, and you’ve got a heavy mental load. Extreme drought conditions have impacted growers in Western Canada and wildfires have burned at record levels throughout the country this year, adding even more pressure.

Dennis Vance is a special assets manager with Nutrien’s Financial Business Services team. His job is to help growers find solutions that enable them to pay their bills and get back on track. He’s not your typical debt collector though. “The majority of my work is in stressful times, whether that is through weather or divorce or something else,” Dennis says. “I have an open ear and a lot of empathy. It’s a small world and I get to know everyone I talk to.”

Growers can talk to Dennis when they need to get on a payment plan or restructure their payments. Dennis makes it his mission to learn the unique circumstances around why payments might be missed or delayed and works to provide options to avoid default.

The Domino Effect of Late Payments

If you find yourself in a tough financial position, it’s important to act. You may not always be able to make a payment, but if you wait too long to deal with the problem, things can snowball, and your financial challenges can grow exponentially. It’s best to talk to your lenders before you actually miss a payment.

Missing a payment can impact your credit score, making it harder to borrow money at the best rates, which can impact your entire farming operation and its profitability. And missing too many payments could even eliminate your access to capital altogether. That’s why it’s best to work with your lenders to come up with a plan before your payment is late. We here at Nutrien are more than willing to talk about your situation and work together with your other creditors to find the right solution that works for everyone. While you might feel the conversation is uncomfortable, timing is crucial since some situations can take a few months to iron out. Being transparent and vulnerable with your banker and lenders can help them to help you. Once that conversation takes place, Dennis says, “I like to tell farmers that now they can get a crop in the field, a smile on their face and now they can sleep at night.”

In a lot of instances, simple communication about your situation is all you need to avoid a financial catastrophe. Working with people you trust, who are invested in your success can make all the difference in making these tough situations a little easier to navigate.

We’ve Got Your Back

We want our customers to know that we are in this together and we want them to be successful. There’s no harm in reaching out to talk about your specific financial situation so we can start to explore options. We can help navigate various grant programs and can talk to you about alternative payment plans.

“We’re here for them, we’re all in this party together,” says Dennis. “I tell people right up front I’m here to work with you. I’ve heard about every situation before and I’m here to help. We’re behind you and will do everything we can to help you succeed.”

Nutrien supports the Do More Agriculture Foundation, an organization dedicated to the mental wellbeing of Canadian farmers. Do More Ag is another resource growers can look to when times get tough. We’re all in this together and Do More Ag is at the forefront of that approach and recognizes stress, anxiety, depression, emotional exhaustion and burnout are all high in the agriculture industry.

From financing and payment options to guidance on how to keep your credit in good standing and even mental health resources, we’ve got your back. Talk to your local branch and they can put you in touch with the right team if you find yourself questioning your ability to make your payment.

Liz Schmidt

Liz Schmidt is a territory sales manager for Nutrien Financial. With a Bachelor of Commerce from the University of Saskatchewan and a major in finance, she provides payment solutions to growers across Saskatchewan and Manitoba to increase their buying power and maximize every opportunity for success.


Want to stay caught up in all things agriculture? Sign up for the newsletter and get all the latest news straight to your inbox.



Posted July 16, 2021

New Varieties Bring New Management to Ensure a High-Quality Crop

Explore More