Reading Time: 5 minutes There’s been a surge in the number of farmers seeking cash advances thanks to soaring interest rates and a big increase in the interest-free portion of the loan. And the deal might even be tempting farmers who don’t need an operating loan. On April 3, the opening day of the 2023 program, the Canadian Canola […] Read more
Cash advance applications soar along with interest rate
With the interest-free portion being upped to $350,000, producers would save thousands — or even invest it
Cash advance window for farmers now open
Reading Time: < 1 minute Farmers can now apply for cash advances for the 2023 growing season. Producers can get up to $1 million with the first $250,000 interest-free. The latter is worth more this year because interest rates are so much higher, note administrators of the Advance Payments Program. “With rising interest rates, the savings a farmer can realize […] Read more
Cash advances’ interest-free portion temporarily raised
APP funds now interest-free for first $250K
The federal government’s low-interest loan guarantee program for Canadian farmers will sweeten the interest-free portion of its offer for the next two program years to help with farm cash flow. Agriculture Minister Marie-Claude Bibeau on Thursday announced a temporary increase in the interest-free portion of the Advance Payments Program to $250,000, up from the usual […] Read more
Advance Payments Program to offer 100 per cent up front
Feds temporarily waive 60 per cent up-front limit
Canadian farmers seeking pre-production cash advances under the federal Advance Payments Program ahead of this year’s spring seeding will be able to get the entire eligible amount up front. Federal Agriculture Minister Marie-Claude Bibeau on Wednesday announced a “temporary waiving” of the program’s usual requirement that pre-production cash advances be issued in instalments of 60 […] Read more
It’s looking like a bumper crop of cash advances this spring
Cash flow a major issue as drought has left producers with less money while inputs have shot up
Reading Time: 4 minutes Groups administering cash advances are expecting a flood of applications from cash-strapped producers grappling with the sky-high costs of putting a crop in the ground. “We certainly think there is going to be demand because of how nasty last year was,” said Dave Gallant of the Canadian Canola Growers Association. “There’s going to be so […] Read more
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