Advance Payments Program (APP) for Beef Producers
Submitted by: Beate Acker
The Advance Payments Program (APP) is a Canadian Federal Loan Guarantee Program available through Agriculture and Agri-Food Canada (Agri-Commodity Management Association Administrator).
It offers cattle producers the opportunity to receive 50% of the market value of the cattle inventory to be marketed between April 1st to September 30th of the following year, in advance of sale.
It helps you with cash flow and provides you the flexibility to better market your product. You can access the first $100,000.00 interest free to a maximum of $400,000.00 at the interest rate of prime minus 1/4%.
To qualify for this program, you must be enrolled in AgriStability (BRM); it provides security in addition to your cattle inventory. Enrollment of the 2011/2012 production year will be available beginning April 30, 2011.
To find out more, call 1-902-895-0581 or visit us at www.porknovascotia.ca. There you will find this year’s advance rates and other important program information, as well as the forms in order to submit your application. This program has benefited many producers.
ACMA offers the Advance Payments Program for Beef Producers in Nova Scotia and New Brunswick