Advance Payments Program Cash Advance Opens Earlier for 2022
“Farmers told us they wanted to apply as soon as possible and they wanted to do it as quickly as possible,” Gallant said. “We listened and facilitated a number of improvements this year.”
Farmers looking for options to finance their spring inputs can take advantage of low interest rates and user flexibility. Many farms include a cash advance in their financial toolkit each spring.
Producers can apply for up to $100,000 interest free and up to an additional $900,000 at prime interest less 0.75%. Farmers can apply for more than 50 products, including field crops, large and small livestock, honey and organic products.
Gallant recommended that new applicants apply through our contact center to help them through the process.
“Our team is specially trained to guide new applicants through every step of the process, and for many applicants it only takes 15-20 minutes. Returning customers can use the self-serve options available from their online account or can also apply through the CCGA Contact Center,” he said.
There are no restrictions on how and where farmers can put an advance to work, and the funds are available from April 1.
Typically, CCGA processes between 8,000 and 9,000 prepayment requests in a typical year.
Farmers who wish to learn more about cash advances can visit the CCGA website.
On Twitter: @farmnewsNOW