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Reminder: September 30 is the last date to repay a 2022/23 Advance for field crops or honey. Click here to view all key dates.
Written by Emily Johnson and Syeda Khurram
2021 was a mixed bag for many farmers. While the majority of yields were lower than average in quantity, prices for many commodities soared, making it a highly-profitable year for those with crop in the bin. As farmers prepare for the 2022 growing season with many unknowns for the season looming, there’s one decision you can make that can help you recover from last year’s challenges, or even take your farming operation’s profitability to new heights. Be one of the hundreds of farmers across Western Canada including FarmCash in their business plan this spring.
While risk is commonplace in the world of farming, FarmCash can help to mitigate the effects of unknown weather conditions, lets you use volatile commodity markets to your advantage, and provides you with the freedom to make investments that are timely for your farm. FarmCash was created as a business risk management tool to improve the profitability of agriculture producers and the benefits are all tied to how you manage your farm’s cash flow. “We’ve always said FarmCash is more than a loan, it’s a tool to help your farm reach a new level of success,” says FarmCash chief operating officer Syeda Khurram. “Producers of a wide variety of commodities and scales of operations are managing their cash flow more efficiently with FarmCash and that translates into interest savings.”
What would you do to grow your profits with a cash advance of up to $1 million, with the first $100,000 interest-free and the remainder at the lowest lending rate available – TD prime minus 0.75 per cent? It might sound like pie in the sky, but since its launch in 2018, FarmCash has been helping farmers and producers of over 50 agriculture commodities stay ahead of the curve. While curves over the past year have been frequent and industry shaking, the 2022 growing season is unlikely to be met without its share of challenges. You might be asking, 'Will it be another year of drought?', or 'Will input prices continue to climb?', although we wish we had a crystal ball, we can only help you prepare for the worst and set you up to have a successful year despite the ongoing risk.
To apply for FarmCash, use our simple online application, complete it without needing to leave your farm, and receive your funds in as little as three to five business days. The application process is quick and provides you with the advance when you need it and for your farm’s benefit. FarmCash is administered by the Alberta Wheat Commission and takes pride in being a grassroots organization that operates for the benefit of farmers. There are no hidden fees, and FarmCash has a dedicated and knowledgeable team available by phone to help you with any questions you might have.
Applications for 2022 spring advances are available now. Learn more and apply at FarmCashAdvance.com or call 1-855-376-2274 to speak with a knowledgeable FarmCash representative about how you can improve your farm’s long-term profitability.
The Advance Payments Program is a federal loan program administered by the Alberta Wheat Commission. It offers Canadian farmers marketing flexibility through interest-free and low interest cash advances.
Originally published on April 4, 2022 in The Grain Exchange.
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