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Posted April 3, 2023
As of April 1, 2023, agricultural producers in British Columbia, Alberta, Saskatchewan and Manitoba can now receive their spring FarmCash advance of up to $1 million with the first $250,000* interest-free and take advantage of opportunities to grow their farms.
While spring applications opened in February, April 1, 2023, marked the official launch of the new federal Advance Payments Program year, allowing for the release of funds to producers who submitted their applications.
FarmCash, under the care of the Alberta Wheat Commission, continues to provide agricultural producers with access to low-interest (TD prime minus 0.75 per cent) or no-interest cash flow in as few as three to five days, along with responsive and knowledgeable customer service producers can count on.
“The Alberta Wheat Commission (AWC) is proud to administer FarmCash as a service to agricultural producers that allows them to mitigate some of the challenges of modern-day farm financing,” says AWC chair and crop producer near Sexsmith, Alberta, Greg Sears.
“Recently, farmers have taken hits to their bottom line through higher interest rates and volatility in farm input prices. With FarmCash, producers can count on receiving the lowest lending rate available and having access to cash flow for their farm quickly and easily”.
FarmCash has made it easier than ever to apply, with priority agreement processing on behalf of producers and a new time-saving autofill feature for returning applicants.
“It’s the new way for producers to finance their farm inputs and grow their operation,” says FarmCash chief operating officer Syeda Khurram. “Each growing season is a new opportunity to get your year off to the right start!”
With FarmCash, producers can use the funds to grow their farms by acting as a bridge gap, to purchase crop and livestock inputs, make equipment purchases, or even to realize interest savings by paying off their lines of credit.
Coinciding with the launch of the spring program year, FarmCash recently unveiled a redesigned website to make it easier for producers to find information and resources on the program. Producers can visit the website and apply online for a spring advance without leaving their farm at FarmCashAdvance.com.
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.
*The federal government has announced its intention to raise the interest-free amount to $350,000 for the 2023 program year, subject to passage of the federal budget.
For more information, please contact:
FarmCash Chief Operating Officer
For media inquiries, please contact:
Marketing Communications Specialist
Alberta Wheat and Barley Commissions
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