Keeping the crop in the bin during market dips but still having the bills paid is one advantage of using a cash advance program. For canola and several other crops, the cash advance is administered by the Canadian Canola Growers Association.
Farmers can access $100,000 interest free, and up to another $300,000 borrowed at CIBC’s prime rate. Farmers then have up to 18 months to pay back the advance.
In this episode of the Canola School, Kelly Green, director of communications for the CCGA, highlights what you need to know in order to access the cash advance program, where to get more information and who to call.
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