Agriculture and Agri-food Canada (AAFC) have decided to make the following changes to the Advanced Payment Programs (APP):
- Increase the cash advance loan limits from $400,000 to $1 million on all commodities.
- Increase the interest-free portion from $100,000 to $500,000 on canola only.
- $100,000 interest-free remains on all other commodities.
Farmers can expect the increased funds to be available on June 26, 2019, but can get ahead by calling the FarmCash office to start their paperwork process now. Farmers looking for more information on the loan limit increase can contact a FarmCash representative by calling 1-855-376-2274 or by emailing email@example.com. For more information farmers can also read the federal government's press release or Q&As.