The Alberta Wheat Commission will be giving farmers a new competitive option.
Starting this Saturday, September 1, the Commission will offer cash advances through FarmCash under Agriculture and Agri-Food Canada's federal Advance Payments Program.
The program provides producers access to low-interest advances up to $400,000 each year, with the Canadian Government paying the interest on the first $100,000.
Alberta Wheat Commission Chair, Kevin Bender, says it's an attractive option for producers looking for cash flow on the grain they haven't been able to move yet.
"We investigated, did some research and thought this would certainly be a good option we could offer to our growers. Ultimately our goal is to make them more profitable, so this is another management tool they can use to manage their farms."
FarmCash offers interest free advances and low interest rates on 45 commodities including all major crops, livestock and honey.
Bender adds, all proceeds from the program will be put back into Alberta's agriculture sector.
Federal Agriculture Minister, Lawrence MacAulay, says ensuring programs continue to respond to the needs of farmers remains a top priority for the Canadian Government.
"With its established relationship in the province, the Alberta Wheat Commission is well positioned to offer Alberta farmers an additional option for cash advances that will help producers meet their needs and grow their business."
To learn more about the program you can call 1-855-376-2274, or you can visit their website.
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