CCGA cash advance applications out early

Quinoa now also eligible for cash advances

quinoa
(Quinoa.com)

Among other changes to the program, applications are available earlier this year for spring cash advances through the Canadian Canola Growers Association (CCGA).

The CCGA on Thursday announced it’s now accepting applications for the 2017-18 advance payments program (APP), which offers cash advances on 45 different crop and livestock commodities. The CCGA is the administrative agency for the federal program.

This year’s list of commodities includes quinoa for the first time, the CCGA said in a release.

The CCGA said Thursday it will now also accept Moose Jaw-based Global Ag Risk Solutions’ production cost insurance plan as a form of security on field crop advances, alongside crop insurance and AgriStability.

The CCGA also noted Thursday it has moved to a single common form for all applicants, replacing its previous “province-specific” application form. “Regardless of which province you farm in, you will use the same application.”

Producers can download the new form from the CCGA website or apply online. The forms are also available at “most” elevators and grain processing plants.

The APP provides eligible producers with cash advances of up to $400,000, with the first $100,000 being interest-free and an additional $300,000 interest-bearing at prime rate.

“The spring cash advance program provides farmers with access to cash flow on their unharvested crops and newly born livestock,” CCGA CEO Rick White said in Thursday’s release.

“We’ve already been getting calls from farmers, so we are pleased that in the first full week of March we are ready to launch our pre-application process.”

Though CCGA has kicked off its pre-application process now, to allow farmers to get the paperwork done before spring seeding, the association begins issuing advance funds on April 3, White noted. — AGCanada.com Network

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