Financial tool supports farmers’ cash flow – PortageOnline.com
Every fall, you’re faced with big decisions about how best to market your crops or livestock, knowing you want to maximize your yields and generate essential farm cash flow.
“Farmers need a financing tool that gives them the flexibility to sell when and at the price that suits them best,” says Dave Gallant, director of finance and operations at the Canadian Canola Growers Association (CCGA).
A CCGA Advance Payments Program cash advance is a financial tool that supports your farm’s working capital needs. Put an advance to work and have more time to execute your marketing plan, cover seasonal operating expenses, pre-purchase inputs for next year’s crop, or make upgrades and repairs – whatever best suits your farm.
“We know farmers have a choice when evaluating cash flow options, and if you’re not already using an Advance Payments Program cash advance, it’s definitely worth checking out. eye,” says Gallant. With recent changes to the program, a CCGA cash advance can help many farms reduce the cost of borrowing from their short-term financing needs.
An application CCGA cash advance is interest free up to $250,000 and farmers can borrow up to $1 million. The interest-bearing portion is charged at prime minus 0.75%, making a cash advance particularly valuable in today’s rising interest rate climate.
WHY A CCGA CASH ADVANCE?
With nearly 40 years of successful farmer experience, CCGA strives to make the cash advance program as convenient and easy as possible. We offer:
One-stop shop for agricultural cash advances. The CCGA offers advances on more than 50 conventional and organic products.
Simple reporting service. The CCGA offers several ways to manage your advance, including our online CCGA account.
Support from an experienced team. Our staff makes it easy to apply for a cash advance, whether by phone or online.
“To apply, we encourage new clients to call us,” says Gallant. “Our team is trained to guide new candidates through every step and get you started in as little as 20 minutes.”
The Advance Payments Program is a federal program administered by the CCGA. It provides Canadian farmers with marketing flexibility through low-interest, no-interest cash advances.
“The CCGA provides us with a cost-effective option to help us manage our cash flow and budget.” – Alberta Farmer
“Your staff are friendly and helpful and our account processing speed is very fast. I am very pleased with the service you provide. – Saskatchewan Farmer
“The best enhancement to your online service is uploading documents. Faster than emails. – Manitoba Farmer
IF YOU’RE CONSIDERING YOUR FIRST MONEY ADVANCE OR IF YOU HAVE ANY QUESTIONS, CALL OUR EXPERIENCED STAFF AT 1-866-745-2256.
1-866-745-2256. Returning customers can also apply online.