Farm Cash advance payment enhancement regulations put in place


The federal government says the regulations to expand the cash advance payments program have been put in place.

Farmers will be able to apply for the new amounts as early as next Monday, June 10th and new advances above 400 thousand dollars will be issued as of June 26th.

The amendments increase loan limits from 400 thousand to one million dollars for all farmers and the interest-free portion on canola advances expand from 100 thousand to 500 thousand dollars this year.

Farmers of all other commodities continue to receive up to 100 thousand dollars interest-free.

In the meantime, the federal government continues to provide farmers access to the current advance limit of 400 thousand dollars, which effective immediately, is interest-free for all canola advances.

The changes for canola producers is designed to provide support after China put a halt to purchases of Canadian canola.


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