Agricultural Credit Corporation (ACC) announced that the application for the 2014/2015 program year which commenced April 1st is now available. The new and improved application has been streamlined to ensure ease of access to the program for producers, who will now be able to apply for over 4,500 different agricultural products on a single, updated application.
The 2014/2015 spring program brings along many positive changes for producers utilizing the Advance Payments Program. Cattle and sheep producers with consistent inventories will have the opportunity to utilize continuous flow repayments schedules where payments are due 12 months from the date of application. Producers applying for greenhouse, nursery and non-storable products, including products such as berries, farm-fresh fruits and vegetables, will be able to repay their advance using a repayment schedule based on their anticipated sales cycle rather than reporting their sales and sending in proof of sale.
Agriculture and Agri-Food Canada’s Advance Payments Program provides producers access of up to $400,000 in operating capital, with the first $100,000 available interest free and the remaining balance at Bank Prime Lending Rate. The program is administered through Agricultural Credit Corporation.
Applications are currently available on the ACC website or can be mailed upon request.
Source: AAC