TORONTO, ONTARIO--(Marketwired - May 5, 2014) - BMO Bank of Montreal today announced it is extending its financial relief program to assist commercial customers in British Columbia, Alberta, Saskatchewan and Manitoba affected by a grain handling backlog that was caused by prolonged cold temperatures and heavy snowfall during the winter.
"The program we announced in March has been extended until the end of June this year. While some progress has been made to alleviate the backlog, we want to ensure there is ample time for our customers who are grain producers and in other related businesses to assess the financial impact and any cash flow disruptions that could impede financing crop expenses for the up-coming season," said Steve Murphy, Head, Canadian Commercial Banking, BMO Bank of Montreal.
The program includes:
- Deferral of loan payments
- Waiver of a new loan application and concessions on renewal fees
- Flexible terms on existing and new lines of credit for 2014 (on a case-by-case basis)
For further information, customers are encouraged to visit a local BMO branch, or call 1-877 CALL BMO (225-5266), or visit www.bmo.com. For information on branch locations in your area, please visit the BMO Branch Locator.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $593 billion and more than 45,500 employees at January 31, 2014.