Effective April 1st, 2007 and with the incorporation of the SCAP and ESCAP (Enhanced Spring Credit Advance Program), the benefits of the APP have increased. Coverage has also expanded to include livestock and an additional variety of crops. The APP has been amended with previous loans of up to $250,000 to qualified borrowers increasing to $400,000.  The first $50,000 borrowed interest free has increased to $100,000 borrowed interest free, with the balance available at an interest rate of prime minus 0.25% and repayment terms of up to 18 months.
For further information on APP, refer to the Agriculture and Agri-Food Canada website (www.agr.gc.ca) or contact your local Collins Barrow office with any questions you may have.