Posted March 1, 2022
FarmCash is now accepting spring advance applications on all 50 plus commodities, from wheat and canola to bison and honey. Starting today producers from British Columbia, Alberta, Saskatchewan and Manitoba can apply for up to $1 million dollars and receive the first $100,000 interest free with the remainder at TD prime minus 0.75 per cent.
Funds cannot be released until the official Advance Payments Program open date on April 1; however, producers can complete their online application starting today and receive their funds on April 1.
“Producers can rely on FarmCash’s innovative features that have made the program the fastest growing Advance Payments Program in Western Canada,” says Greg Sears, Alberta Wheat Commission chair. “There is no other form of financing that delivers funds as fast as FarmCash. FarmCash has also reinvented the industry’s baseline customer service experience to provide a simple, convenient application, and education on the many ways the program can improve the long-term profitability of farming operations.”
FarmCash is a business risk management tool that was created for the benefit of producers, and can be especially helpful for producers looking to bounce back from a challenging year, or to take their profitability to new heights.
“The hardships of 2021 were a great reminder for producers to take advantage of FarmCash, an extremely low-interest cash advance, to help mitigate financial risk,” says Sears. “Even in an ideal growing season, FarmCash can provide marketing flexibility or opportunities to make investments that translate to increased profitability.”
Syeda Khurram, FarmCash chief operating officer believes uptake of the program is here to stay.
“Year after year, more and more producers are utilizing FarmCash as a way to improve the efficiency of their cash flow management,” says Khurram. “With costs rising across the industry, FarmCash can be instrumental for producers to stay ahead of the curve.”
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