Canadian Canola Growers Association media release
Winnipeg, Manitoba – April 1, 2015 The Canadian Canola Growers Association (CCGA) officially begins issuing cash advances today for the 2015-16 Advance Payments Program (APP). This year, there are changes to the program that will make it more convenient and flexible for farmers.
On Monday, the Honourable Gerry Ritz, Minister of Agriculture and Agri-Food announced major enhancements to the APP in Saskatoon, highlighting how Canada’s producers will remain competitive with world markets thanks to reduced red tape, ease of access, and flexible repayment options.
“These changes provide greater access to operating cash flow for our farms,” says Brett Halstead, President of CCGA. “At the same time, they make accessing that cash flow less cumbersome, and that’s very important for today’s agriculture operations.”
Under the improved APP, farmers will have access to cash advances on more commodities in one place – an important convenience for farmers. CCGA’s commodity lineup has expanded significantly, and now includes all major field crops and livestock, including oilseeds, cereal grains, coarse grains such corn, pulse and specialty crops, cattle, hogs, and more. All 45 commodities are on one application, with one low administration fee. Other important changes that farmers will experience immediately include the removal of withhold and added flexibility for repaying grain advances.
Farmers who apply for an advance through CCGA are eligible for a cash advance of up to $100,000 interest-free and an additional, interest-bearing $300,000 at CIBC prime.
“With over 2,000 pre-applications received in March, we’ve already seen great uptake on the program changes,” says Rick White, CEO of CCGA. “We’re excited to begin issuing funds today as the growing season will soon be in full swing.”
Farmers wanting to apply for a cash advance are encouraged to call CCGA’s Winnipeg office at 1-866-745-2256. Applications can also be downloaded or completed online at CCGA’s website, www.ccga.ca. Application forms will soon be available at elevators across Western Canada.
CCGA represents more than 43,000 canola farmers on national and international issues, policies and programs that impact farm profitability. CCGA is an administrator of the Advance Payments Program in Western Canada.
e: [email protected]
The Alberta Canola Producers Commission is a farmer directed organization representing Alberta’s 14,000 canola growers and is a member of the Canadian Canola Growers Association.
Tags: cash advance