Commodity loan guarantee program
Learn how to apply for short-term operating loans supporting farmers for the purchase of crop input supplies.
Overview
The Commodity loan guarantee program (CLGP) supports farmers by providing access to short-term operating loans for the purchase of crop input supplies, such as seed, fertilizer and pesticides.
It is administered on behalf of the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) by the Agricultural Credit Corporation (ACC). ACC is a private sector, not-for-profit financial institution comprised of various producer associations and marketing boards. Qualifying farmers can borrow up to $750,000 under the CLGP.
Recent program improvements
- Loan repayment deadlines are being permanently extended from February 28 to September 30 to better align repayment dates with how farmers market their products. The extended deadlines will reduce paperwork and costs for farmers, who would otherwise have to transfer their loans to other financing options.
- The maximum guaranteed loan limit is being increased from $120 million to $200 million on a permanent basis. This increase will allow for the extended loan repayment deadlines and accommodate an increase in lending capacity.
Program guidelines
Additional program delivery details are communicated to program administrators and participants through the CLGP guidelines.
How to apply
Applications and additional details about the program and loan rates can be found at the ACC Commodity loan guarantee program website.
Contact us
For additional enquiries contact:
Agricultural Credit Corporation
200 Hanlon Creek Boulevard
Guelph, ON
N1C 0A1
Phone:
Toll Free:
Email: advance@agcreditcorp.ca