Episode 228: CCGA Cash Advance Program: The Financial Tool Farmers Are Looking For with Dave Gallant

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Episode 228: CCGA Cash Advance Program: The Financial Tool Farmers Are Looking For with Dave Gallant

 

In this week’s episode, Tracy speaks to Dave Gallant from the Canadian Canola Growers Association about the “CCGA Cash Advance Program: The Financial Tool Farmers Are Looking For.”

Are you concerned about the current elevated interest rates?

If so, you will not want to miss this episode, in which Tracy speaks to Dave Gallant about a powerful borrowing tool for Canadian farmers.
In this episode, they discuss:

• Who is the Canadian Canola Growers Association and what does it do? Did you know that in addition to policy development and advocating for Canola Growers, the association is also the largest and most experienced Advance Payments Program administrator in Canada and strives to make the program as convenient as possible?
• Dave shares that the Advance Payments Program is a federal program administered by the Canadian Canola Growers Association. It offers Canadian farmers marketing flexibility through interest-free and low-interest cash advances.
• Tracy asks Dave how the CCGA Cash Advance Program terms compare to traditional banks. Interest-free loans? Yes. CCGA is offering up to $250,000* interest-free for all eligible commodities and the interest-bearing portion at prime rate less 0.25%.
• Tracy and Dave speak about how this program is a fantastic tool for young farmers because no extra collateral/security is needed to borrow. It makes financing more accessible for those starting out and helps them build up a credit borrowing history.
• Did you know that the CCGA Cash Advance program covers 50 eligible commodities, including all major field crops and livestock, as well as organic crops and cattle.
• Tracy asks Dave when farmers can apply. Is it once a year, or can farmers apply at different times throughout the year? Do crops need to be seeded, and calves need to be born to apply? Dave shares all the details with our audience.
• In addition to the unbeatable financial terms, Dave shares how the cash advance is really a powerful marketing tool for farmers. It allows farmers to sell when they want to, not when they need to for cash flow purposes.
• One thing Dave notes for our audience is that while this program is National across Canada, CCGA only lends to certain provinces. He shares those provinces, and for farmers outside these provinces, he gives details on where farmers can find other institutions that lend to their province.
• Dave gives a final call to action, details on the application process, and where and how farmers can apply.

Are you interested in learning more about the CCGA Cash Advance Program? If so, you will want to tune into this episode and visit their website below.

 

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* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
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Show Resources

CCGA Cash Advance Program

 

First-time customers, be sure to check us out online: www.ccga.ca/cash 

Follow us on Twitter https://twitter.com/ccga_ca

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Show Guests

Dave Gallant
Vice-President, Finance & APP Operations

Dave Gallant has been Director of Finance and Operations with the Canadian Canola Growers Association since September 2014.

Before that, he earned a wealth of experience in finance and marketing services for farmers. During his 21 years at the Canadian Wheat Board, Dave successfully delivered a full suite of time and money saving e-business services to farmers and industry partners.

Dave holds a Bachelor of Commerce, Honours from the University of Manitoba and is a Chartered Professional Accountant. In his role with CCGA, Dave is responsible for the daily operations of the cash advance program, information technology services and financial management.

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The Impact Farming Show

Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation. 

Show Host - Tracy Brunet
CEO of Farm Marketer 

Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming. 

In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas. 

Connect with Tracy Brunet - Twitter / Facebook / Instagram / Linked in

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