Tuesday, December 19, 2023

Less benefit from advance payments program

The federal government is trimming its support provided through the Advanced Payment Program.

Effective next year, only the first $100,000 of the advanced-payment loans will be interest free. That’s down from $350,000.


The $1 million limit on loans remains in effect.


Farmers who take advantage of the loans have up to 18 months to pay them off.