Alberta cash advance program FarmCash launches in September

FarmCash will offer producers interest free advances of up to $100,000 and low interest advances on 45 commodities, including all major crops, livestock and honey.
Top Crop Manager
Wednesday, 22 August 2018 | Calgary
By Top Crop Manager
The Alberta Wheat Commission (AWC) will provide cash advances through FarmCash for Alberta's crop, livestock and honey producers to help manage cash flow throughout the year. The program will begin September 1, 2018 and is provided under Agriculture and Agri-Food Canada's (AAFC) federal Advanced Payments Program (APP). 

FarmCash will offer interest free advances and low interest rates on 45 commodities, including all major crops, livestock and honey, through a fully automated web-based platform. The Alberta Wheat Commission will administer the program which is designed to help producers meet their financial needs, cash flow obligations and increase marketing opportunities to improve profitability.

APP is a federal loan guarantee program which provides agricultural producers with access to low-interest cash advances up to $400,000 per program year based on the value of their agricultural product, with the Government of Canada paying the interest on the first $100,000 advanced to a producer and the remaining $300,000 at a low interest rate.

Starting September 1, farmers can apply for the program online, in person, over the phone or by mailing in an application form. 

AWC encourages farmers to sign up to receive notifications or to call 1-855-376-2274 to learn more about the program. AWC is approved as an official administrator of the Advance Payments Program by Agriculture and Agri-Food Canada.

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