To assist producers in the timely marketing of their products, applications for the 2012 Advance Payments Program (APP) for Stored Crops in Ontario, British Columbia and Nova Scotia are now available for download on Agricultural Credit Corporation's (ACC) website.
Under the Advance Payments Program, growers storing crops anytime after harvest are able to access up to $400,000 in operating capital, with the first $100,000 available interest-free and the remaining $300,000 available at Bank Prime Lending Rate. "This program can assist producers by allowing them to take the time to strategically market their products," said Jaye Atkins, CEO, Agricultural Credit Corporation.
The 2012 program for storable crops has seen many changes over the past several months. In June, ACC received approval to administer financing for three biomass crops in both Ontario and Nova Scotia and are looking to expand this program across Canada. ACC was also successful moving the eligibility date for harvested wheat forward from October 1st to July 1st to better coincide with harvest timelines allowing access to funds when needed most.
Applications for the 2012 storage program are now available to the public on the ACC website, to recurring clients through registered online access, or can be requested over the phone via our customer service centre at 1-888-278-8807. Application packages will also be mailed upon request. For those already enrolled in the 2012 APP crop input program through ACC, a separate application is available through your online user account or by contacting ACC directly.
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CONTACT: Jaye Atkins, CEO Agricultural Credit Corporation