August 25, 2021
Ontario farmers who are in AgriStability don't need to wait to apply for a 2021 AgriStability payment. An interim payment can provide cash flow sooner, when it's needed most. Interim payment application forms are available on
agricorp.com.
Interim payments are 50 per cent of a farmer's estimated final payment. Farmers in northwestern Ontario in drought-impacted areas may be eligible for an increased AgriStability interim payment of 75 per cent.
Challenges such as unpredictable weather, market disruptions or increased costs may pose financial difficulties for some farmers. For 2021, farmers have benefitted from more than $3.8 million in interim payments already.
How do interim payments work?
Things like market uncertainties, rising input costs and disasters can have a detrimental effect on farm businesses. That is where AgriStability can help. It is an affordable part of the risk management plans for many farms.
Farmers whose 2021 income has declined to under 70 per cent of their reference margin can apply for an interim payment.
In addition, AgriStability participants who are experiencing financial distress can
contact Agricorp to ask for their 2020 forms to be prioritized for review.
Get payments up to seven days faster
Farmers have enough to do without the hassle of cheques. They can get cash in their account five to seven days faster with direct deposit. Direct deposit is convenient, reliable and secure.
To sign up, customers can call Agricorp or go to agricorp.com/directdeposit. All customers need is a void cheque and a few minutes of their time to make things a little easier.
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