Late last week, the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, announced the interest-free limit for the 2025 Advance Payments Program (APP) is increasing to $250,000. Canadian Canola Growers Association (CCGA) began accepting applications for the 2025 program in mid-February and is taking steps to deliver cash advances at this higher interest-free benefit. Previously, the interest-free limit was set at $100,000.
“We’re focused on implementing the higher interest-free benefit quickly so that all farmers, including those who have already applied for a 2025 cash advance, can benefit equally,” says Dave Gallant, CCGA’s Vice-President, Finance & APP Operations. “CCGA will be notifying existing 2025 applicants about the program change and any actions required on their part. We hope to make the process seamless for all farmers.”
For 2025, farmers can apply for up to $1 million in financing, with the interest-free component at $250,000 and the remaining at CCGA’s interest-bearing rate of prime less 0.25%.