Commodity Loan Guarantee Program
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 Ministry by the Agricultural Credit Corporation (ACC); a private sector, not-for-profit financial institution comprised of various producer associations and marketing boards. Under the CLGP, qualifying farmers can borrow up to $750,000.
Recent Improvements to the CLGP
- 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.
Additional program delivery details are communicated to Program Administrators and participants through Program Guidelines. The latest CLGP Program Guidelines can be found here.
Program Applications and Enquiries
Applications and additional details about the program and loan rates can be found here: Commodity Loan Program.
For additional enquiries contact:
Agricultural Credit Corporation
200 Hanlon Creek Boulevard
Toll Free: 1-888-278-8807
For more information:
Toll Free: 1-877-424-1300