The Canadian Canola Growers Association (CCGA) officially begins issuing cash advances today for the 2016-17 Advance Payments Program (APP). A cash advance provides farmers with cash flow from crop or livestock commodities that have not yet been sold and, in many cases, not yet planted.

As an APP administrator, CCGA continues to offer farmers quick and easy access to operating cash flow for spring.  Farmers are eligible for a cash advance of up to $100,000 interest-free and an additional $300,000 at CIBC prime. Combined, that equates to $400,000 at a blended interest rate of below prime.

“A cash advance is a valuable tool that can help farmers maximize their revenues while at the same time minimizing their cost of financing,” says Dave Gallant, Director of Finance and Operations at CCGA. “We are excited to begin issuing funds today and for farmers to take advantage of the program this growing season.”

Through CCGA, farmers can access advances on 45 field crop and livestock commodities; all on one application, with one low administration fee. “Our lineup of commodities includes oilseeds, cereal grains, coarse grains, specialty crops, forage and grass seeds, honey, cattle, hogs, bison, and more,” says Gallant.

“CCGA has been accepting pre-applications since March 14 and will begin issuing funds to farmers today,” says Gallant.

Farmers wanting to apply are encouraged to call CCGA’s Winnipeg office at 1-866-745-2256. Applications can also be downloaded or completed online at www.ccga.ca. Application forms will also soon be available at many elevators across Western Canada.

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