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Advance Payments Program │Agriculture and Agri-Food Canada (AAFC)

Open to applications

Value

up to $1,000,000 per program year

Description

The Advance Payments Program is a federal loan guarantee program which provides agricultural producers with easy access to low-cost cash advances.

Eligible Applicants

To be eligible you must be:

  • a Canadian citizen or permanent resident; or
  • a corporation, cooperative or partnership of which the majority interest is held by Canadian citizens or permanent residents.

You must also:

  • be the age of majority in the province of operation;
  • have produced/be producing and own the agricultural product; and
  • be responsible for its marketing.

For a corporation, cooperative or partnership, one or more of the stakeholders must be the age of majority in the province of operation.

Eligible Expenses

Under the program, you can access up to $1,000,000 in total advances based on the value of the eligible agricultural products you will produce or that you have in storage. The Government of Canada pays the interest on the first $100,000 of your advance (the first $250,000 for 2024). You make repayments to the advance as you sell the agricultural products, with up to 18 months to fully repay the advance for most commodities (up to 24 months for cattle and bison).

APP advances can provide you with cash flow to meet your financial needs until you are able to sell your agricultural products. The program can provide marketing flexibility by allowing you to sell your agricultural products based on market conditions rather than the need for cash.

Deadline Date

Open. Please click the link indicated below for update.

Contact

Contact Name: Advance Payments Program

Phone Number: 1-866-367-8506 (toll-free)

E-mail Address: aafc.fgp-pgf.aac@agr.gc.ca

Website: https://agriculture.canada.ca/en/programs/advance-payments

Industry:

Agriculture

Location:

Alberta, British Colombia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Nunavut, NWT, Ontario, PEI, Quebec, Saskatchewan, Yukon

Tags:

Agricultural Producers, Loan

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