Agricultural Credit Corporation (ACC) and Government of Ontario, Ministry of Agriculture, Food and Rural Affairs (OMAFRA) – Commodity Loan Program (CLP) (2022)
Description:
The Commodity Loan Program was developed in 1992 to assist Ontario farmers in financing their crop planting, cultivating, and harvesting expenses.
Comments on Funding:
Funding is up to $750,000 at Prime Interest Rate per eligible company per year.Loan terms and conditions:
- Financing is up to 22 months (Includes enrollment in storage component).
- Amount borrowed is geared to ‘actual’ cash costs of operation @ 70/75% of farm gate value.
- Repayment:
- as crop is marketed (no receipts required);
- farm-fed grains/silage (Nov-Feb);
- deadline to repay: September 30th. Applicants can transfer balance to CLP storage before December 30th.
Eligibility:
Other Things to Note:
ACC offers low cost operating loans to producers in 3 provinces, including Ontario, British Columbia and Quebec.
When It Ends:
Ongoing
Deadline:
Rolling deadline