(file photo/CKOM News Staff)

By CKOM News Staff

Loan money for farmers available June 26, Ottawa says

Jun 3, 2019 | 4:52 PM

Agriculture producers will have to wait another 3 1/2 weeks before they see loan money from the adjusted Advance Payments Program, Ottawa announced Monday.

In an emailed media release, federal Agriculture Minister Marie-Claude Bibeau said loan amounts of $400,000 or more will be issued on June 26. Producers can begin applying for the program on June 10.

The feds adjusted the program earlier this year partly in response to China blocking all shipments of Canadian canola to that country. Producers’ initial responses to the changes were mixed.

At the time, Premier Scott Moe said he was supportive of the changes.

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The adjustments include bumping up the maximum loan limit in the Agricultural Marketing Programs Regulations from $400,000 to $1 million, and increasing the interest-free portions of loans for canola farmers from $100,000 to $500,000.

“With the regulations now in place, government officials are working with the 36 program administrators to revise contracts, operating procedures and to ensure system changes are properly implemented, and are working as efficiently and effectively as possible,” the media release said.

The release also advised producers “to contact their APP administrator regarding application details and processing timelines.”