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:

  1. Financing is up to 22 months (Includes enrollment in storage component).
  2. Amount borrowed is geared to ‘actual’ cash costs of operation @ 70/75% of farm gate value.
  3. 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:

  • Applicants must be Ontario farmers/producers.

Other Things to Note:

ACC offers low cost operating loans to producers in 3 provinces, including Ontario, British Columbia and Quebec.

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