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Program Comparison
What's important to you?
- Maximize cash flow
- Low or no interest
- Financing for production or marketing
- Year-round operating capital
| Advance Payments Program (APP) | Commodity Loan Program (CLP) | Ginseng Storage Loan Guarantee Pilot Program (GSLGPP) |
|---|---|---|
| Operating capital for crop inputs | Operating capital for crop inputs | Capital for ginseng in storage |
| $1,000,000 Loan Maximum | $750,000 Loan Maximum | $1,000,000 Loan Maximum |
| First $250,000 (2024) or $100,000 (2025) - Interest-free / Balance @ Prime | 100% approved limit @ Prime | Up to $1,000,000 or approved limit @ Prime |
| Financing up to 18 months (Includes enrollment in storage component) |
Financing up to 22 months (Includes enrollment in storage component) |
Financing up to 36 months |
| The loan rate is calculated at approximately 50% of the projected farm gate value | Amount borrowed is geared to ‘actual’ cash costs of operation @ 70/75% of farm gate value | The rate for ginseng in storage is set by the Ontario government, Currently set at $39.07 per kg. |
| Loan calculations are related to Production Insurance Guarantee, AgriStability Reference Margin, ASRA Reference Margin or quantity of product in storage | Loan calculations are related to Production Insurance Guarantee | Loan calculation is related to quantity of ginseng in storage |
| Farm-fed grains and silage are not eligible | Farm-fed component included | The only eligible product is harvested ginseng in storage |
| Available to farming operations across Canada | Available to Ontario farming operations and may be combined with the APP | Available to Ontario producers who have harvested ginseng in storage |
| Repayment: | Repayment: | Repayment: |
| As crop is marketed - supported by receipts after Jan-31 Repayment commodity specific | As crop is marketed (no receipts required) Farm-fed grains/silage (Nov-Feb) | As crop is marketed, or by repayment deadline, or upon demand |
| Deadline to repay: December 30th in case of non-storable crops | Deadline to repay: September 30th | Deadline to repay: March 31st (36-month program) |
| Can transfer balance to APP storage before December 30th | Can transfer balance to CLP storage before December 30th | Can keep the loan for up to 36 months as long as there is sufficient ginseng inventories to support the loan balance. |
