Interest-Free Loans for 2024 Crop Inputs
On March 25th the Minister of Agriculture and Agri-Food, Lawrence MacAulay, announced that the interest-free limit of the Advance Payments Program has been set at $250,000 for the 2024 program year.
Operating capital for crop inputs:
$1,000,000 Loan Maximum
First $250,000 - Interest-free / Balance @ Prime
Financing up to 18 months (includes enrollment in storage component)
The loan rate is calculated at approximately 50% of the projected farm gate value
Loan calculations are related to Production Insurance Guarantee, AgriStability Reference Margin, ASRA Reference Margin or quantity of product in storage
