Winnipeg, Manitoba – Recognizing that the heavy demands of spring farm work are right around the corner, the Canadian Canola Growers Association (CCGA) is giving farmers more time than ever to apply for an Advance Payments Program (APP) cash advance. CCGA released its 2022 APP cash advance application today and invites farmers to complete their application during the early application phase, which runs from now until March 31.
“We had two overriding priorities when preparing to launch the 2022 application,” says 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.”
Farmers seeking options to finance their spring inputs might want to give a cash advance a second look. 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.
“We encourage first-time applicants to apply through our contact center,” says Gallant. “Our team is specially trained to walk new applicants through every step of the process, and for many applicants it only takes 15-20 minutes.” Returning customers can use the self-serve options available from their online account or can also apply through CCGA’s contact centre.
For more than 35 years, CCGA has been helping farmers succeed by supporting their working capital needs through cash advances. “We’re excited to get the new year started and help farmers prepare for the busy spring they have ahead,” says Gallant.
Farmers wanting to learn more about the cash advances offered through CCGA can call 1-866-745-2256 or visit CCGA’s website www.ccga.ca.
The Advance Payments Program is a federal loan program administered by CCGA. It offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances.
Source : ccga