Increasing costs, higher interest rates, and inflation may mean more producers may be looking at taking part in the Advance Payments Program for this year.
The cash advance is available to crop, livestock and honey producers across Manitoba, Saskatchewan, Alberta and British Columbia.
Under the program, eligible producers can access up to $1 million and receive the first $250,000 interest-free on over 50 different commodities.
Last year, Agriculture and Agri-Food Canada increased the interest-free portion from $100,000 to $250,000 for the 2022-2023 program years.
The Advance Payments Program is a federal loan program administered by the Alberta Wheat Commission under the FarmCash program, and the Canadian Canola
The Alberta Wheat Commission is now accepting pre-applications, while the CCGA pre-applications open on Thursday (February 9th) with the first advances being issued on April 1st.
To get more information on the FarmCash program through AWC check out their website here, details on the cash advance through the CCGA is available here.