FarmCash opens spring application, lowers interest rate and waives application fee
Due to the current COVID-19 situation, the Alberta Wheat Commission would like to assure producers that FarmCash is open for business and will be processing spring applications as originally planned for the 2020 program year.
FarmCash announced today that its spring application is now open for business with a lower interest rate than ever before. Farmers can apply today to receive funds as early as April 1 at a reduced interest rate of prime minus 0.75 per cent. FarmCash is further announcing that farmers will no longer pay a fee to apply.
Through FarmCash, Alberta producers can apply for up to $1 million with $100,000 interest free on over 50 agriculture commodities. FarmCash is a competitive cash advance option that offers an innovative application platform and exceptional customer service.
“We launched FarmCash to offer producers a competitive cash advance option, but always with their needs in mind,” says Todd Hames, Alberta Wheat Commission chair. “Our reduced interest rate is timely with the challenges farmers have faced this year, and the time saving features we offer ensure you can spend more time in the field and less time doing paperwork. FarmCash strives to make your application process as easy as possible.”
The online application accepts e-signatures, features an automatic loan calculator, and includes a document upload feature. FarmCash also offers producers the option to have a customer service representative verify priority agreements on their behalf.
“We are always listening to customer feedback and making improvements to FarmCash to better serve Alberta producers,” says Syeda Khurram, FarmCash chief operating officer. “Not only can this program help with cash-flow management, but with a reduced interest rate and waived application fee, FarmCash is further supporting farmers’ long-term profitability.”
FarmCash is a competitive Advance Payments Program option under Agriculture and Agri-Food Canada. The Advance Payments Program is a federal loan program administered by the Alberta Wheat Commission. It offers Canadian farmers marketing flexibility through interest-free and low interest cash advances. Alberta producers interested in applying for a spring cash advance can visit farmcashadvance.com to apply today.
For more information, please contact:
FarmCash Chief Operating Officer
For media inquiries, please contact:
Marketing and Communications Coordinator
Alberta Wheat and Barley Commissions