Posted March 15, 2021
Starting today, for the first time in its history, FarmCash is accepting spring advance applications from all western Canadian producers. This announcement follows the multi-provincial expansion of the FarmCash program made public on February 17, 2021. While funds cannot be released until the official Advance Payments Program open date on April 1, producers can complete their online application today and explore new account features including a designated FarmCash account manager and an online account dashboard. These features provide a cash advance experience tailored to the unique needs of agriculture producers.
Western Canadian producers of over 50 agriculture commodities including crops, livestock and honey, can apply for up to $1 million with the first $100,000 interest-free and the remaining balance at a competitive interest rate of TD prime minus 0.75 per cent.
“The uptake of FarmCash as a business management tool continues to grow and we are excited to open up the enhanced program to producers in additional provinces,” says Todd Hames, Alberta Wheat Commission chair. “Because of the knowledgeable customer service team and excitement for FarmCash within the industry, producers are becoming increasingly aware of its year-round uses including mitigating the risk of unexpected weather or operational bills during the growing season.”
The new online account dashboard will provide producers with their current account information at-a-glance, and the designated account manager system will give customers an enhanced and personalized experience.
“FarmCash is committed to constantly improving the program experience for our customers,” says Syeda Khurram, chief operating officer of FarmCash. “Producers have questions on how FarmCash can improve the long-term profitability of their operation and we continue to take a leadership role in educating producers on the Advance Payments Program offered by the federal government.”
FarmCash features that producers have come to rely on will continue to be provided, such as the convenient online application and quick application turnaround times with access to 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. It offers Canadian farmers marketing flexibility through interest-free and low interest cash advances.
For more information, please contact:
FarmCash Chief Operating Officer
For media inquiries, please contact:
Marketing Communications Coordinator
Alberta Wheat and Barley Commissions