Agriculture and Agri-Food Canada’s Advanced Payment Program (AAP), delivered by the Agricultural Credit Corporation (ACC) in Ontario, has released the list of rates for storage crops (including hops) for the 2018-2019 growing season.
The available advance rate for Ontario growers in the 2018-2019 growing season will be $6.79/dry lb. Hop program deadlines and rates include:
- Advance available date: 1 April, 2018
- Repayment deadline: 30 September, 2019
- Advance rates: $6.79/ dry lb for ON and $4.85/ dry lb for BC
Click here fore a link to the 2018-2019 Product Rate List and Worksheets for Ontario
The AAP “…is a federal loan guarantee program that helps crop, livestock, greenhouse and nursery landscape producers meet their financial obligations and benefit from the best market conditions by improving their cash flow throughout the year.” The program will provide up to $400 000 advance with the first $100 000 interest free and the following $300 000 at prime interest rate.