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Unharvested crop in the field: is a Cash Advance still an option?

A cash advance can be a source of cash flow for farmers with unharvested crops

Harvest 2018 has been less than ideal. With unharvested crop still in the field farmers may be looking for new options to cover fall expenses. The Canadian Canola Growers Association’s Cash Advance program gives farmers flexible cash flow options that can help in times such as these.

We recognize that many farmers are having a difficult harvest. So similar to 2016, we’re reminding farmers that CCGA will continue accepting seeded Cash Advance applications throughout the fall season, (along with the more typical stored grain advances that are common this time of year). To be eligible for a fall seeded advance, farmers must meet the regular eligibility criteria for a seeded  advance, including security from either crop insurance or AgriStability.

Want to learn more about a CCGA fall Cash Advance? We take pride in making things simple and convenient for you and can take you through the process from start to finish. We offer:

  • multiple ways to apply,
  • a direct deposit feature that gets funds into your hands faster, and
  • an online account system that gets you up to date information about your advance at the click of a button.

With a CCGA Cash Advance, farmers can access up to $400,000. The first $100,000 is interest free and the next $300,000 at prime rate, resulting in a blended interest rate below prime. Cash Advances are available for 45 commodities, including all major field crops, honey, and livestock in Western Canada. For a complete list, and to find out more, visit www.ccga.ca/cash or call 1-866-754-2256.

CCGA is an administrator of Agriculture and Agri-Food Canada’s Advance Payments Program

 
 

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