Application Period Extended for APP Cash Advance

The Canadian Canola Growers Association (CCGA) is giving farmers more time than ever to apply for an Advance Payments Program (APP) cash advance.

CCGA officially released its 2022 APP cash advance application on Wednesday, with farmers given until March 31 to complete their application during the early application phase.

"We had two overriding priorities when preparing to launch the 2022 application," said Dave Gallant, Director of Finance and Operations at CCGA. "Farmers told us they want to apply as early as possible, and they want to do it as quickly as possible. We listened and have facilitated a number of improvements this year."

Because of the low-interest rate and user flexibility, many farms include a cash advance as part of their financial toolkit each spring. The advance can provide financing for crop inputs while reducing overall farm borrowing costs. There are no restrictions on how or where farmers can put an advance to work, and funds become available as early as April 1.

Through CCGA, farmers can apply for up to $100,000 interest-free and up to an additional $900,000 at an interest rate of prime less 0.75%. Farmers can apply for more than 50 commodities including field crops, large and small livestock, honey, and organic commodities as well.

First-time applicants are encouraged to apply through the CCGA contact center, while returning customers can use the self-serve options available from their online account or can also apply through CCGA's contact centre.