Cash Advance Program Enhancements
On May 1, Agriculture and Agri-Food Canada (AAFC) announced increased limits for the 2019-20 Advance Payments Program to support farmers facing cash flow challenges in Canada's grains and oilseeds sector.
These changes include increasing the maximum allowable limit available under the APP from $400,000 to $1,000,000, and expanding the program's interest-free component for canola from $100,000 to $500,000 until market conditions stabilize. The interest-free component will remain at $100,000 for all other commodities included under the APP.
The Canadian Canola Growers Association (CCGA) is working with AAFC to update the cash advance system as quickly as possible to accept applications under the new limits.
Click here to read CCGA's news release, re: cash advance program enhancements.
Click here to view FAQ on cash advance program enhancements from AAFC.
Click here for more information on how to apply for a cash advance.