Commodity Loan Program (CLP)
What is the CLP?
The Commodity Loan Program (CLP) was developed in 1992 to assist farmers in financing their crop planting, cultivating, and harvesting expenses in Ontario.
Why should I use the CLP?
Access to lower cost financing, supplementing cash flow throughout the year, while paying less interest. Up to 15 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.
- 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: February 28th
- Can transfer balance to APP storage before February 28th