Wednesday, September 1, 2021

TD bank offers prompt cash advances


The TD bank is offering farmers in Western Canada fast delivery of cash advances from a joint federal-provincial program.

It said farmers can have cash in hand within three to five days.

Applications opened today for the cash advance program for about 50 commodities.

TD previously offered the program in Alberta and now has expanded it to British Columbia, Saskatchewan and Manitoba. For farmers in the rest of Canada: tough!

Cash advances can be up to $1 million per applicant with the first $100,000 interest-free and the prime rate plus 0.75 per cent per year for the remainder.

“We are hearing from producers that the enhancements to the FarmCashprogram over the last several years couldn’t have come at a better time,” said Todd Hames, chairman of the Alberta Wheat Commission.