On February 28, 2008 amendments to the Agricultural Products Marketing Act received Royal Assent. These amendments to the Advance Payment Program will provide easier access to immediate cash flow by:

• Removing the requirement for livestock producers to use a Business Risk Management program such as AgriStability as security for a cash advance and allowing producers to use inventory as security. This brings the treatment of livestock more in line with other produced commodities.
• Adding "severe economic hardship" as a condition to offer emergency advances, on the recommendation of the Minister of Agriculture and Agri-Food and the Minister of Finance.
• Revising the security requirements for emergency advances and increasing the emergency advance available to producers to a maximum of $400,000 in conditions of severe economic hardship.

The Advance Payments Program is a financial loan guarantee program that gives producers easier access to credit through cash advances and features up to $100,000 in interest-free loans.

Ontario livestock producers can contact the ACC Farmers’ Financial to find out more about the Livestock Regular and Emergency Advance Payment Programs.

• Advance Payments Program - Agriculture and Agri-Food Canada (AAFC)
• 2008-09 Emergency Advance Payment Program for Cattle - ACC Farmers Financial
• 2008-09 Regular Advance Payment Program for Cattle - ACC Farmers Financial
• Canadian Farm Business Advisory Services - AAFC
• Farm Debt Mediation Service - AAFC
• Farm Improvement and Marketing Cooperatives Loan Act - AAFC
• Ontario Commodity Loan Program - ACC Farmers Financial
• Ontario Feeder Cattle Loan Guarantee Program - Ontario Cattlemen's Association
• Ontario Beef Breeder Loan Program - Ontario Cattlemen's Association