What this program offers
Temporary increase to the interest-free limit for 2022 and 2023
On June 23, 2022, the Minister of Agriculture and Agri-Food announced a temporary increase to the interest-free limit for advances under the Advance Payments Program (APP). The change will make the purchase of important inputs such as fuel, fertilizer and seed more affordable for producers.
The interest-free limit will increase from $100,000 to $250,000 for the 2022 and 2023 program years. This is the portion of advances on which the Government of Canada pays the interest on behalf of producers. Through the increase to the interest-free limit, eligible producers will have access to additional cash flow over the next 2 growing seasons.
Additional information on this initiative can be found at Government of Canada announces interest relief for agriculture producers or by contacting an APP Administrator.
Here is more information on the Advance Payments Program