Farm Finance

Overview

Farm Finance

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

OFA Fact Sheets Additional Info