Advance Payment Program

Prince Edward Island

Federal Support Program

Financial Support for Island Farmers

Access up to $1,000,000 in low-cost operating capital through the Advance Payments Program.

Interest-Free

The first $250,000 of your advance is interest-free, funded by the federal government.

Thresholds are set annually

Interest-Advantaged

Amounts above $250,000 are provided at Prime - 0.75%, negotiated for PEI producers.

Local Guidance

PEIFA handles the paperwork, inspections, and liaison with creditors for you.

The Process

Program Lifecycle & Deadlines

A roadmap for managing your capital throughout the production year.

1

Application Phase

Beginning April 1st

Submit your application with signed repayment agreements and production estimates.

Seeding Reports

May – July: Confirm planted acres via FSAR report.

2

Sales & Repayment

Ongoing / 30-Day Limit

Repay as you sell:

Submit proof of sale documentation
Pay back the portion of the advance
Finalize within 30 days of sale

3

Final Settlement

Production Year End

Storage Reports

Dec 31 / Jan 31: Annual storage reporting and final documentation enforcement.

Deadline

September 30

All outstanding balances must be cleared to maintain eligibility.

Product Coverage

Everything We Fund

The Advance Payments Program supports a wide range of PEI production categories.

Field & Row Crops

Storable & Fresh Production

Potatoes

Grains & Cereals

Fruits & Berries

Turf Grass

Root Vegetables

Pulses & Oilseeds

Specialty & Storable Vegetables

Livestock

Standard Flow

For cow/calf beef cattle operations. Repayment terms extended up to 24 months.

Beef Cattle

Continuous Flow

Settled at the end of the advance year for hogs, lambs, and beef heavies.

Hogs • Lambs • Heavies

Security & BRM

Advances must be secured through federal Business Risk Management (BRM) programs to ensure financial stability.

Crop Security

AgriInsurance Coverage

Livestock Security

AgriStability Enrollment

Contact our office to verify your specific security requirements before beginning your application.

Need Coverage for a Niche Commodity?

We cover dozens of specialty crops and island-specific products. Reach out to our team to confirm your eligibility.

Financials

Application & Costs

Eligibility Checklist

BRM Security

Advances must be fully secured by AgriInsurance or AgriStability coverage.
Entity Structure

Sole proprietors, partnerships, and corporations based on PEI are eligible.

Admin Fee Schedule

Advance Range	Member Rate	Non-Member
Up to $50,000	$550	$700
$250,000 – $400,000	$1,250	$1,500
$400,000 – $1,000,000	$1,750	$2,250

Let's Get Started

Our Program Officers are here to help you navigate the application and secure your operating capital.

Andrew Wood

Program Officer

awood@peifa.ca

902-368-7289

Paul King

Program Officer

paulking@peifa.ca

902-368-7289