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Ag-Link program offers interest reductions
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.