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Ag-Link program offers interest reductions

Published Feb. 4, 2010 | Discuss this article on Facebook
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Buckeye Farm News

The Ohio Treasury offers the Agricultural Linked Deposit program (Ag-LINK) to provide reduced rate loans to help Ohio farmers offset the cost associated with feed, seed, fertilizer, and fuel. 

In 2002, the Ohio General Assembly increased the program allocation from $100 million to $125 million dollars.  Since its inception, Ag-LINK has helped over 28,000 farmers receive reduced-rate financing totaling $1.9 billion. In 2009, the Ohio Treasury awarded $123,090,805 to farmers in 82 of the state’s 88 counties. 

To qualify for the program, farms must be for-profit with headquarters and more than half of their land and facilities maintained in Ohio.  Additionally, farmers must have a documented need for the reduced interest rate, and may request the reduction for up to the first $100,000 of a loan.

The Ohio Treasury is accepting applications for the 2010 Ag-LINK cycle. The deadline to submit application is Friday, March 12, 2010 at 5 pm.  Applications must be mailed or dropped off at the Ohio Treasury’s offices located at 30 E. Broad Street, 9th floor, Columbus, Ohio 43215.  For more information, visit www.ohiotreasurer.gov.



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