A cash advance can unlock your farm’s potential for growth whether you’re just getting started or have been farming for years. An advance offers you the flexibleness to advertise your product if the some time cost is most beneficial for your needs, boosting your farm’s income. In addition it reduces your price of manufacturing through low-interest funding solutions.
Getting all of this is a lot easier than in the past, along with your advance requires within one spot at CCGA:
even More products in one single spot.
CCGA offers advances for many significant area plants, honey and livestock in Western Canada. Having all your valuable advance loan needs in a single location saves your valuable time.
Friendly service your path.
Our customer support group is targeted on delivering solutions for farmers each time, whether you employ phone solutions, our internet-based web solutions at ccga.ca or our useful CCGA Cash Advance App.
One application and something reasonable charge.
Whether you are applying on plants, honey, livestock or most of the above, you are going to have only to fill in one application and will be charged only one management charge.
Ensure You Get Your Funds Quicker.
CCGA’s direct deposit function gets cash loan resources to your arms quicker, helping you save a see into the post-office and a vacation to your lender.
Numerous approaches to use.
- On Line
- Mail or Fax
The Advance Payments system continues to provide farmers:
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- As much as $400,000 advance because of the very very very first $100,000 interest-free;
- Competitive interest levels at CIBC prime;
- Mobility to market your product whenever marketplace circumstances tend to be favorable;
- As much as 18-month payment duration on plants, honey, hogs, goats and sheep;
- As much as 24-month payment duration on cattle and bison.
Improvements readily available for 45 commodities, including all significant area plants, honey and livestock kinds. Included in these are:
Any farmer can put on, so long they farm as they are a Canadian citizen or a permanent resident of Canada who has reached the age of majority in the province where. Corporations, cooperatives and partnerships will also be qualified.
Year farmers can apply for an advance throughout the program. a springtime whole grain advance should be guaranteed by crop insurance coverage or AgriStability. Post-harvest whole grain advances tend to be secured because of the unsold kept crop. To qualify for a livestock advance, the pets must currently be produced while the advance must certanly be guaranteed by AgriStability.
How Can An Advance Work?
CCGA money improvements tend to be computed according to advance prices. For plants and honey, these prices tend to be per metric tonne or per lb. For livestock, the rates tend to be per mind. Rates differ by product and also by province. The worthiness of cash improvements open to each farm is based on:
- the quantity of commodity(s) which is why they use,
- the advance price for the product,
- modification elements such as for example crop insurance coverage or AgriStability protection levels and,
- system qualifications limitations.
Pre-Harvest Whole Grain Improvements
For whole grain, farmers can put on for the pre-harvest or springtime advance either before or after growing. For pre-seeded improvements, farmers get 60% of the determined advance whenever their particular application is authorized. The residual 40% is granted whenever CCGA gets the farmer’s Actual Seeded Report.
Post-Harvest Whole Grain Improvements
Year grain farmers can apply for an advance on stored grain at any time throughout the program.
Livestock improvements may be sent applications for whenever throughout the system 12 months, so long as the stock applied on has already been created. Advance prices differ for numerous kinds and loads of livestock.
Repaying Your Advance
CCGA advances are paid back once the commodities advanced in are offered. The advance must be repaid in full by September 30 of each 18-month program period for grain, honey, goats, sheep and hogs. For cattle and bison, the advance must certanly be paid back in complete by March 31 of the 24-month system period. Constant circulation cattle and hog improvements needs to be compensated within one year for the advance becoming released or because of the final end associated with manufacturing period. Payment choices consist of:
- A CCGA approved grain purchaser make repayments right to a producer’s account as whole whole grain comes through the or year
- Money repayments are meant to CCGA straight during your standard bank, including web banking repayments.
- Money repayments can be manufactured straight to CCGA by cheque.
More repayment that is flexible.
Whole Grain farmers whom sell whole whole whole grain and then make repayments prior to January 31 of this system year are not any longer necessary to send product sales documents.
Simple tips to utilize
The money advance system administered by CCGA is manufactured accessible to farmers that are canadian Agriculture and Agri-Food Canada’s Advance Payments plan.