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Advance Payments Program


Are you familiar with The Advance Payments Program? This very helpful program was designed to give producers easier access to credit through cash advances for crops they are planting.

Financing is available for growers of:

• Beets
• Cabbage
• Carrots
• Onions
• Grapes (various varieties)
• Green Onions
• Potatoes
• Rutabagas
• Turnips
• Broccoli
• Brussels Sprouts
• Cauliflower
• Peas
• Parsnips
• Squash

Program Facts:

• Up to $100,000 Interest-free
• An additional $300,000 available at Prime Lending rate
• Funding available April 1, 2013
• Spring-seeded crops application deadline: August 31, 2013
• Advance(s) to be repaid as crop sold and no later than December 15, 2013 unless the crops are being stored after January 1, 2014
• For those marketing crop(s) out of storage, a post-production report will be available October 2013 and must be received by November 30, 2013. Please contact office for details
• Non-storable crops repaid via pre-authorized debits selected during application process
• Proof of sales document must accompany all repayments – this can also be a summary page showing product, date of sale, and number of units sold
• Producers must participate in Production Insurance or Agristabilty

Applications for this program are available January through August.

White Kennedy recently completed an application for a client of ours that will provide them with over $60,000 of interest free funds until mid – December, after their grapes have been sold.  That should help out substantially with their cash flow crunch!

Click the link below to download your copy of an Advance Payments Program application!

Advance Payments Program Application

Contributed by H. Jon Milligan – Partner, White Kennedy