Tuesday, March 1, 2022

Advance payments open April 1

Agricultural Credit Corporation will be opening for cash advance applications on April 1.

Farmers can borrow up to $1 million for 18 months. The first $100,000 is interest free and currently the interest rate on the balance is 2.45 per crent.

In Alberta, farmers are able to make an advance registration via FarmCash.

FarmCash loans beyond the first $100,000 charge the TD bank’s prime rate minus 0.75 per cent.

The Alberta registrations will have to wait until April 1 for release of the funds.