Farmers can get a jump start on spring by submitting their cash advance applications for the 2018-19 Advance Payments Program through the Canadian Canola Growers Association (CCGA). This year, CCGA is providing farmers with the earliest ever pre-application period as well as a reduced administration fee.
“Many farmers take advantage of an intended seeded advance, which provides them with cash flow prior to planting,” says Rick White, CEO of CCGA. “We’ve already had calls from many farmers anxious to get their cash advance paperwork finished so they can focus on spring work once conditions are suitable.”
“This marks the earliest date we’ve had applications available to farmers through our telephone and online application processes,” says Dave Gallant, Director of Operations at CCGA. “By applying in March, farmers can have their advance processed during our pre-application period, which means their advance could be approved and advance funds available to them early in April.” CCGA will begin issuing advance funds to farmers on Tuesday, April 3, 2018.
“Providing excellent customer service and adding value for farmers is key to what we strive for at CCGA,” says White. “Our recent investments in new technology and process improvement have allowed us to reduce our administration fee from $150 to $50 per application, while maintaining our high level of customer service.”
Through CCGA, farmers can access advances on 45 field crop and livestock commodities. Farmers can apply for a cash advance of up to $100,000 interest-free and an additional $300,000 at prime. Combined, that amounts to $400,000 at a blended interest rate of below prime.
Farmers wanting to apply for a cash advance are encouraged to call CCGA’s Winnipeg office at 1-866-745-2256 to apply over the telephone. They can also download an application form from CCGA’s website.
For farmers who have short-term financing needs, CCGA will continue processing applications for the 2017-18 cash advance program through March. The final date CCGA can issue an advance under the current program is March 31, 2018, and the deadline for repayment on a 2017-18 grain advance is September 30, 2018.
Source : Albertacanola