Alberta Wheat Commission (AWC) has announced that its FarmCash Advance Payments Program, previously only available in Alberta, will now be available to producers in British Columbia, Saskatchewan, and Manitoba, beginning March 15, 2021.
FarmCash has provided Alberta producers of over 50 ag commodities — including major crops, livestock, and honey — with another option to manage cash flow since Alberta Wheat became an administrator of the federal advance payments program in 2018.
“AWC strongly believes that all western Canadian agricultural producers can benefit from the fast and efficient service that FarmCash provides,” says Todd Hames, AWC chair. “We pride the FarmCash program on continually adapting to producers’ cash flow needs and maintaining a high level of customer satisfaction.”
A free, online application system for the program saves time, money, and provides access to funds in as little as three to five business days after submission, AWC says. FarmCash provides producers up to $1 million with the first $100,000 interest-free, and the remainder at a low interest rate of TD prime minus 0.75 per cent.
“FarmCash is more than just a cash advance. It’s a tool that helps producers meet their short-term cash flow needs and enhances their long-term profitability,” says Syeda Khurram, chief operating officer of FarmCash.
Spring advances for the program will be released starting April 1, 2021. Applications open for Western Canada on March 15.
The Canadian Canola Growers Association and Manitoba Crop Alliance also administer the federal advance payments program for crop producers across Western Canada. You can find a complete list of APP administrators here.