What is the CLP?
The Commodity Loan Program (CLP) was developed in 1992 to assist Ontario farmers in financing their crop planting, cultivating, and harvesting expenses.
Why should I use the CLP?
Access to lower cost financing, supplementing cash flow throughout the year, while paying less interest. Up to 22 months for repayment.
When can I get the CLP?
Generally funding is available beginning in December of each year and dependent on what you are producing in the current year.
How much can I borrow?
Eligible companies can receive up to $750,000 at Prime Interest Rate per year.
How can I get the CLP?
For more information about the CLP or to process an application over the phone, call ACC toll-free at 1-888-278-8807.
More Details
- Available to Ontario Producers
- Operating capital for crop inputs
- $750,000 Loan Maximum
- 100% approved limit @ Prime
- Financing up to 22 months (includes enrollment in storage component)
- Amount borrowed is geared to ‘actual’ cash costs of operation @ 70/75% of farm gate value
- Loan calculations are related to Production Insurance Guarantee
- Farm-fed component included
- Repayment as crop is marketed (no receipts required)
- Farm-fed grains/silage (Nov-Feb)
- Deadline to repay: September 30th
- Can transfer balance to CLP storage before December 30th