Letter Regarding the Interest-free Portion of Loans Under the Advance Payments Program (APP)
November 15, 2024 | Documents
In advance of the Fall Economic Statement, NCFA, along with Canada’s agriculture groups, submitted a letter to Finance Minister Chrystia Freeland regarding the interest-free portion of loans under the Advance Payments Program (APP).
The APP was designed to help producers meet escalating input costs including the cost of raising capital to invest into the next crop. At a time when all producers, particularly young farmers, require all financial tools at their disposal, maintaining the increase would go a long way in making our sector more economically competitive.
In an unsteady an unpredictable economic environment, we urge you to keep the increase to the interest-free portion of loans under APP permanent to permit greater stability and support for producers who work hard to increasing Canada’s food security and economic competitiveness.