Applications are now open for post-harvest FarmCash advances, the Alberta Wheat Commission (AWC), says in a news release on Sept. 1. Alberta producers of more than 50 agricultural commodities, including crops, livestock and honey, can apply for free through an online application and receive funds in three to five business days upon completion of their application.
“FarmCash is more than a cash advance to get above the red line during unforgiving seasons. It allows producers to invest long-term into their crops, farms and herds,” Todd Hames, AWC chair, says in the release.
Producers are able to receive cash advances up to $1 million with the first $100,000 interest free, and the remainder available at a low interest rate of TD Prime minus 0.75 per cent, the release notes.
The online application process allows producers to save by time by having the ability to accept e-signatures, an automatic calculator and a document uploader. There is also a support team available five days a week over phone or email.
Alberta producers can apply online at farmcashadvance.com or call 1-855-376-2274.
FarmCash is a competitive Advance Payments Program option under Agriculture and Agri-Food Canada, the release notes. The Advance Payments Program is a federal loan program administered by the Alberta Wheat Commission.