AWC expands cash advance program

The Alberta Wheat Commission is expanding its FarmCash advance payments program.

Beginning March 15, the program will be offered to growers in British Columbia, Saskatchewan and Manitoba, as well as those in Alberta.

“AWC strongly believes that all western Canadian agricultural producers can benefit from the fast and efficient service that FarmCash provides,” said AWC chair Todd Hames.

“We pride the FarmCash program on continually adapting to producers’ cash flow needs and maintaining a high level of customer satisfaction.”

Since the rollout of the program in the fall of 2018, FarmCash has been providing Alberta producers of more than 50 agricultural commodities — including all major crops, livestock and honey — with another competitive option to manage their farm cash flow.

The program is furnished under the federal government’s advance payments program, a program that offers Canadian farmers marketing flexibility by providing interest-free and low interest cash advances.

FarmCash provides producer advances up to $1 million, with the first $100,000 interest-free and the remainder at an interest rate of TD prime minus 0.75 per cent.

Growers can submit applications using an online application process that saves time and provides access to funds in as little as three to five business days.

Program details are available at farmcashadvance.com/

Contact brian.cross@producer.com

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