Manitoba Crop Alliance will begin issuing cash advances on winter wheat and fall rye planted fall 2021 through Agriculture and Agri-Food Canada’s Advance Payments Program, the organization announced October 12.
The Advance Payments Program is a federal loan program administered by the Manitoba Crop Alliance. Under the program, eligible farmers are eligible for up to $1 million with the Government of Canada paying the interest on the first $100,000 of the advance.
Funds can be issued in three to five business days once the application process is complete, MCA said in the news release. MCA said its interest rate on interest-bearing cash advances is competitive with major banks and credit unions.
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Manitoba Crop Alliance also continues to process applications for the 2021 program year on over 35 crop kinds and honey.
To apply for an advance under the 2022 program year on winter wheat and fall rye planted fall 2021, farmers can phone Manitoba Crop Alliance’s office at 1-204-745-6661 or toll free 1-877-598-5685 to request an application form.
More information on the Advance Payments Program can be found on Manitoba Crop Alliance’s website at mbcropalliance.ca.
