The Federal Government has made two significant changes to the Cash Advance program for farmers.
Dave Gallant is with the Canadian Canola Growers Association, who are one of the administrators of the program.
"On April 1st, the government changed the interest-free component for all commodities from $100,000 to $250,000. So farmers now have access to $250,000, interest-free, on all commodities included in their advance. They have also added an additional $250,000 interest-free, on canola. So a farmer with canola on their advance can get up to half a million dollars, interest-free, under the program."
Up to 50 different grains and oilseeds, as well as livestock, are eligible under the cash advance program.
Gallant adds there are no restrictions, so farmers can use the funds as they see fit for their farming operation.
First-time applicants are encouraged to call 1-866-745-2256.
Existing customers can go to the secure website to apply at any time.
