Comments on Funding:
Funding is a loan of up to a maximum of $1,000,000.
Loan terms and conditions:
1. first $250,000 are interest-free;
2. the remaining $750,000 are available at Prime Interest Rate;
3. financing is up to 18 months (includes enrollment in storage component);
4. the loan rate is calculated at approximately 50% of the projected farm gate value;
a) as crop is marketed (supported by receipts after Jan 31st);
b) the deadline to repay is December 30th in case of non- storable crops.
Applicants must call ACC for more information about the program or to process an application at 1-888-278-8807.