Applications are being accepted for the Advance Payment Program

Farmers in Western Canada can now apply for the 2023 Advance Payments Program (APP) through Canadian Canola Growers Association (CCGA).

The program, commonly known as the cash advance, is used by many farmers to cover the working capital requirements of putting in the new crop.

CCGA Director of Finance and Operations Dave Gallant said a $250,000 interest-free limit is in effect for this year.

“With rising interest rates, the savings a farmer can realize from using the advance program are more significant than ever, taking into consideration the interest-free component and the interest-bearing rate,” Gallant said.