By Alice McFarlane

Cash advance program accepting fall applications

Sep 7, 2021 | 4:36 PM

MELFORT, Sask. — Farmers experiencing a cash flow crunch have another option available to them.

FarmCash is accepting applications for post-harvest, fall livestock and actual honey production advances. Producers of over 50 agriculture commodities in British Columbia, Alberta, Saskatchewan, and Manitoba can apply using the online application and receive funds in as little as three to five business days.

The Advance Payments Program is a federal loan program administered by the Alberta Wheat Commission. Chair Todd Hames said it offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances.

“We are hearing from producers that the enhancements to the FarmCash program over the last several years couldn’t have come at a better time,” Hames said. “Producers need access to tools like FarmCash to mitigate the inevitable risks of farming.”

This is the fourth year the program has been available to Alberta producers. British Columbia, Saskatchewan and Manitoba farmers can participate for the first time this fall.

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FarmCash chief operating officer Syeda Khurram said cash flow management throughout the cycles of the production year are crucial.

Producers can apply for up to $1 million and receive the first $100,000 interest free with the remainder at an interest rate of TD Prime minus 0.75 per cent.

Producers interested in applying can visit FarmCashAdvance.com or call 1-855-376-2274 to speak with a representative.

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alice.mcfarlane@pattisonmedia.com

On Twitter: @farmnewsNOW