Maple syrup producer organizations received early payments under the Advance Payments for Crop Act, APCA, for maple syrup and not the Department of National Revenue Act.
For 1994, no applications for maple syrup were made under the APCA.
In 1995, three organizations applied for and received guarantees under APCA: les Producteurs de sucre d'érable du Québec; la Fédération des producteurs acéricoles du Québec; and la Coopérative des producteurs de sirop d'érable du Nouveau-Brunswick.
Les Producteurs de sucre d'érable du Québec was the only organization of the three to issue advances under the program. Its 1995 guarantee on maple syrup was $6,000,000; to date advances for maple syrup have been issued only in Quebec.
a) 1995 Interest payments under the cash flow enhancement program total $163,548.28
b) Dates of Payments Amount of Interest
04-07-95 $21,435.95 27-07-95 $32,441.44 07-09-95 $27,741.44 26-09-95 $30,739.73 27-10-95 $26,198.63 24-11-95 $24,991.09
$163,548.28
c) The APCA provides a loan guarantee to producer organizations to facilitate a loan from a financial institution for the purpose of making advance payments to individual producers for their crop in storage. This provides the producer with cash for the loan negotiated by the producer organization with the financial institution soon after harvest on the basis of crop in storage to allow the producer flexibility in marketing. The advances are repaid from sales as the crop is sold. There is no federal program expenditures under the act.
The cash flow enhancement program is a non-statutory program that pays the interest on the first $50,000 of advances made to each producer under the act.