Home electronic fund CCGA Kicks Off New Year By Issuing 2020 Aoril Cash Advances 1 | Agriculture

CCGA Kicks Off New Year By Issuing 2020 Aoril Cash Advances 1 | Agriculture

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April 1 is a particularly important day for the Canadian Canola Growers Association (CCGA) as it is the day the organization begins issuing new Spring 2020 cash advances to farmers in Western Canada.

Along with a new year of advance granting, significant changes are being made to farmers who accept an Advance Payments Program (APP) cash advance through the CCGA. “New this year, we have eliminated administration fees and reduced the interest rate on advances bearing interest at prime rate less 0.75%,” said Rick White, President and CEO of the CCGA.

The Advance Payments Program is a federal loan program administered by the CCGA. It provides Canadian farmers with marketing flexibility through interest-free, low-interest cash advances.

Through the CCGA, farmers can access advances on more than 50 field and livestock products, as well as honey. Farmers can request a cash advance of up to $ 100,000 without interest and up to a maximum of $ 1,000,000. The interest bearing portion is billed at the prime rate less 0.75%.

“We have already received over 1,300 farmers who sent in their pre-requests in March, so as soon as these requests are processed and approved, the farmers will be notified,” said Dave Gallant, director of finance and operations at the CCGA.

Like other organizations, the CCGA has changed the way it operates in response to COVID-19. “We’ve made adjustments to the way we work to ensure that we can continue to serve farmers, while helping to minimize the impact of COVID-19 on our staff, customers and community,” said Gallant.

All CCGA employees work remotely and the CCGA no longer receives walk-in traffic. “The changes we’ve made are necessary to maintain service for farmers, but they may delay our ability to answer questions or process requests ahead of our normal service levels,” White said. “Rest assured that we are doing our best to meet the needs of farmers as effectively as possible. “

Farmers who wish to request a cash advance are encouraged to call the CCGA at 1-866-745-2256 to apply by phone. Farmers can also download an application form from the CCGA website or existing customers can use the online application system directly accessible from their online account.

The CCGA represents canola growers on national and international issues, policies and programs that affect farm profitability, and has been the administrator of the Government of Canada’s Advance Payments Program since 1984.

The Advance Payments Program is a federal loan program administered by the CCGA. It provides Canadian farmers with marketing flexibility through interest-free, low-interest cash advances.