Commodity Loan Program (CLP)
$750,000.00
Loan
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:
a) as crop is marketed (no receipts required);
b) farm-fed grains/silage (Nov-Feb);
c) deadline to repay: September 30th. Applicants can transfer balance to CLP storage before December 30th.
Continuous Intake
Eligibility:
Applicants must be Ontario farmers/producers.
Application Steps:
Applicants must call ACC for more information about the program or to process an application at 1-888-278-8807.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
