Winnipeg, MB — A new year has started at Canadian Canola Growers Association (CCGA) with the Association kicking off its 2021 cash advance pre-application process – earlier than ever before and with new service improvements for farmers.
"In more than 35 years of operations, this is the earliest that CCGA has started accepting applications for the Advance Payments Program," says Dave Gallant, Director of Finance and Operations at CCGA. "We're already in touch with a waiting list of farmers who want to take full advantage of the benefits that an advance can offer by applying early and getting the paperwork done before the busy planting season begins."
The Advance Payments Program is a federal loan program administered by CCGA. It offers Canadian farmers marketing flexibility through interest-free and low interest cash advances.
Through CCGA, farmers can access advances on over 50 field crop and livestock commodities, as well as honey. Farmers can apply for a cash advance of up to $100,000 interest-free and to a maximum of $1,000,000. The interest-bearing portion is charged an interest rate of prime less 0.75%. There are no limits to how a farmer can put an advance to work on their farm, including financing spring inputs, investing in farm improvements or repairs, covering employee wages, and more.
"For the 2021 program year, CCGA continues to provide the high level of service that customers have come to expect from us with best-in-class telephone support to farmers across Western Canada," says Gallant. "Our online account services include quick account look up features, plus a new streamlined application for existing customers, who will benefit from a simplified signature process for CCGA forms."
Beginning today, farmers can complete their 2021 application over the phone or download an application from CCGA's website. Beginning next week, CCGA's customer site will be updated with a new streamlined application process, including simplified signature and data entry steps for existing customers. CCGA will begin issuing funds on approved advances on April 1, 2021.
"The goal of Helping Farmers Succeed is central to everything we do at CCGA," says Rick White, President & Chief Executive Officer at CCGA. "Having our application form ready early is one way we make a difference for farmers. Being a program leader in eliminating administration fees and lowering our interest rates is another."
Farmers wanting to apply for a cash advance are encouraged to call CCGA at 1-866-745-2256, option 1, to apply over the telephone or visit www.ccga.ca to download an application form or to login into their online account.
For farmers who have short-term financing needs, CCGA will continue processing applications for the 2020-21 program through March.
Canadian Canola Growers Association represents canola farmers on national and international issues, policies and programs that impact farm profitability and has been an administrator of the Government of Canada's Advance Payments Program since 1984. For more information visit www.ccga.ca or follow CCGA on Twitter @ccga_ca.
Kelly Green, Director of Communications