NEW 2015 production period begins April 2015
Manitoba Livestock Cash Advance was established in 2007 to administer the ADVANCE PAYMENTS PROGRAM (APP) for Cattle producers in Manitoba and Saskatchewan. Sheep/Lamb producers in Manitoba, Saskatchewan, and Alberta. Bison and Goat producers in Manitoba, Saskatchewan, Alberta and British Columbia.
The Advance Payments Program (APP) is a federal loan guarantee program that helps livestock producers meet their financial obligations and benefit from the best market conditions by improving their cash flow throughout the production period. MLCA issues producers a cash advance on the anticipated value of their livestock that is being produced. Producers can receive a cash advance on up to 50% of the expected average market price of the livestock.
To be eligible producers must be a Canadian citizen or permanent resident. A corporation, cooperative, or partnership of which the majority interest is held by Canadian citizens or permanent residents.
Producers must also meet the security requirements. For Cattle, Sheep/lamb and Bison producers can secure their advances using the inventory, however you must be participating in the current year of Agristability, the Business Risk Management program for Livestock advances. Goat producers use Agristability in addition to the agricultural product itself as security.
Producers can access cash advances of up to $400,000.00, with the first $100,000.00 of the cash advances being interest free.
Have any questions? We'd love to help....contact us at 1-866-869-4008
Note that there will be a 3.16% (2013) and 3.00% (2014) holdback of funds on loan advances. (To be credited back to loan on payout date)
For all standard Cash Advances repayments are to be made as the inventory is sold.
**New terms of repayment are now in effect. Please see "Fact Sheet" for details
2014 Sheep and Goat Standard Advances final maturity date is Sept. 30, 2015
(*Repayments to be made as inventory is sold)
24 Month Production period for Cattle and Bison.
2013 Cattle and Bison Standard Advances final maturity date us March 31, 2015
(*Repayments to be made as the inventory is sold)