Over the Labour Day long weekend, the FarmCash cash advance program opened the 2019 fall application. As of September 1, Alberta producers can apply online through FarmCash for a fall advance on over 50 agricultural commodities. FarmCash is offered through the Advance Payments Program of Agriculture and Agri-Food Canada (AAFC).
The FarmCash fall application offers Alberta producers up to $1 million in cash advances, with the first $100,000 interest-free on all commodities and $500,000 on canola advances for the 2019 program year. Additionally, FarmCash offers a competitive interest rate of prime minus 0.50% on the remaining balance.
“FarmCash is a cashflow management tool to help farmers better manage their production costs and market their crops when the timing is right,” says Gary Stanford, Alberta Wheat Commission chair. “With the current trade and weather challenges Alberta farmers are facing, it’s another option in their farm management toolbox.”
FarmCash’s mission is to provide Alberta producers with a time saving cash advance option. The online application’s time saving features include:
• The ability to accept e-signatures;
• An automatic calculator for eligible funds;
• A document upload feature; and
• The option to have FarmCash verify priority agreements on your behalf.
“Taking the time and stress out of applying for a cash advance has always been our goal with FarmCash. Previously, cash advance applications were manual documents; FarmCash was the first administrator to offer an online application. Paperwork can be daunting and time consuming so we strive to eliminate that, especially during busy times such as harvest season,” says Syeda Khurram, FarmCash chief operating officer.
Alberta producers interested in a fall advance through FarmCash can apply online at farmcashadvance.com or call 1-855-376-2274 to speak with a FarmCash representative today.
The Alberta Wheat Commission is approved as an official administrator of the Advance Payments Program by Agriculture and Agri-Food Canada.