Manitoba Crop Alliance launches 2024 APP Cash Advance Program
March 4, 2024 (Carman, MB) – Manitoba Crop Alliance (MCA) is now accepting applications for 2024 Advance Payments Program (APP) cash advances, with funds to be issued starting April 2, 2024.
The APP is a federal loan program administered by MCA. It offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances. Under the program, eligible farmers are eligible to receive up to $1,000,000, with the Government of Canada paying the interest on the first $100,000 of the advance for the 2024 program year.
Funds for the 2024 spring cash advance program will start being issued on April 2, 2024. For the 2024 program year, MCA’s interest rate on interest-bearing cash advances is prime – 0.50 per cent. This interest-bearing rate is the most competitive in Manitoba among other APP administrators, major banks and credit unions.
“The APP is a great tool that allows farmers to market their agricultural products when they want to and when it will provide the most benefit to their operation,” says MCA CEO Pam de Rocquigny. “After more than 40 years as an APP administrator, we’re proud to continue offering this valuable program to farmers across Manitoba.”
To apply for an advance under the 2024 program year, farmers can visit mbcropalliance.ca/advance-payments-program-cash-advance/ or phone the MCA office at 1-204-745-6661 or toll-free 1-877-598-5685 to request an application form.
MCA also continues to process applications for the 2023 program year on over 35 crop kinds and honey until March 15.
“Client satisfaction is our top priority with this program,” says de Rocquigny. “If our clients aren’t happy with their MCA cash advance experience, we haven’t done our job.”
If farmers would like to be notified regarding APP-specific information, please email hello@mbcropalliance.ca to be added to the subscriber list. More information about the APP can be found at mbcropalliance.ca.
-30-
For more information, please contact:
Darcelle Graham
Chief Operating Officer
204-745-6661
darcelle@mbcropalliance.ca
About Manitoba Crop Alliance:
Manitoba Crop Alliance is a non-profit organization established Aug. 1, 2020, representing more than 7,700 farmer members. Manitoba Crop Alliance puts their farmer members first and strives to continuously improve the competitiveness and profitability of all crops represented by the organization by focusing on four main areas: research, agronomy, market access and development, and communications. It is through investment in these key areas that Manitoba Crop Alliance can ensure wheat, barley, corn, sunflower and flax are sustainable production choices for Manitoba farmers. For more information, visit mbcropalliance.ca.
