There’s no understating the importance of agriculture to our state. Ohio’s farms and agribusinesses not only serve as a cornerstone of economic prosperity – they feed our families and instill a deep sense of pride in our communities.
Since 1986, the Ohio Treasurer’s Ag-LINK program has supported farmers and agribusinesses by making capital more affordable and alleviating some of the financial pressure faced at the beginning of the growing season.
Through Ag-LINK, our office helps Ohio farm operators and other agricultural businesses finance the up-front operating costs for feed, seed, fertilizer, fuel, and other costs. The program provides an interest rate reduction on agriculture business operation loans up to $150,000 at eligible banks, credit unions, and farm credit lenders. While the exact amount of the discount will be provided to lenders in late March, a minimum one percent discount is in place.
With the market uncertainties caused by COVID-19 and other factors, Ag-LINK serves as an important tool that can provide significant savings. In fact, in fiscal year 2020, we helped 822 Ohio farmers and agribusinesses receive lower interest rates on more than $91 million in new loans.
The Ag-LINK application period remains open through March 19. Those interested should contact their financial institution to begin the online application process. More information is available on our website at www.ohiotreasurer.gov/aglink.