Doubled interest-free portions for canola cash advances are now available.
Farmers can access to up to $500,000 interest-free with a maximum eligible advance of $1 million.
For 2025, the interest-free component includes up to $250,000 for any commodity eligible under the program, plus an additional $250,000 for canola only.
The necessary regulatory amendments took effect on Sept. 16. These provide for a temporary doubling of the interest-free portion for canola advances under the Advance Payments Program. Canadian Canola Growers Association (CCGA), which administers the program in Western Canada, began issuing advances on Friday, the association said in a news release.
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“CCGA will reassess all current 2025 customer advances and reallocate the interest-free and interest-bearing portions of those advances in a way that maximizes the interest-free benefit available to eligible farmers,” said Dave Gallant, CCGA’s Vice-President, Finance & APP Operations.
“We are responding quickly so that all farmers can benefit from this change and will notify existing customers about the program changes and any actions required on their part.”
Farmers can apply for up to $1 million in financing in 2025, with up to $500,000 interest-free, and the remaining at an interest-bearing rate of prime less 0.25 per cent.
Ottawa announced the program changes in early September as part of a spending packaged geared towards aiding the canola sector amid crippling Chinese tariffs, and boosting domestic biofuel production.
