Yes, but not for the same crops. By applying for both programs, you can access up to $1,150,000 with up to $100,000 interest-free and the balance at Prime Lending Rate.
Several services are provided under your administration fee including credit checks, lien searches, lien registration, as well as administration and compliance services.
Farm-fed crops are eligible for input financing under the Commodity Loan Program.
It will take approximately 10-14 business days to process a complete application. To avoid delays in having your application processed, please review the checklist found within all application forms which lists signatures and supplementary documents required for each program application package submitted. Applicants are also welcome to contact our office at 1-888-278-8807 to review their application prior to submission to ensure all areas are accurately completed, and all supplementary documents have been gathered.
Receipts from crop sales and livestock sales are required by Agriculture and Agri-Food Canada under terms of the legislation to verify date of sales and amount of product sold used to repay the loan. For more information on proof of sales documents please contact our office at 1-888-278-8807 or firstname.lastname@example.org
The Advance Payments Program (APP) is a Government of Canada program which supports the provision of cash advances to producers across Canada. Under the APP, Agriculture and Agri-Food Canada (AAFC) provides funding to guarantee advances taken by producers through farm organizations and covers the interest on the first $100,000 in advances taken by each producer under the program.