Helping agriculture to thrive in the state of Ohio
Across Ohio, farms and agribusinesses create jobs, spur economic development, feed our families and instill pride in communities. As one of Ohio’s biggest economic drivers, a thriving agricultural sector is critical to our state’s prosperity. That’s why I’ve made supporting farmers and agribusinesses a priority for my administration.
The treasurer’s office has long administered the Ag-LINK program to help farmers and agribusinesses finance up-front costs for feed, seed, fertilizer, and fuel through an interest rate reduction on operating loans. When extreme weather wreaked havoc on Ohio’s fields last year, we opened a special Ag-LINK application period, helping more than 150 farmers and agribusinesses receive lower interest rates on loans totaling over $18 million.
The application period for the 2020 Ag-LINK season is open through March 20 – so there’s still time to apply. Farm operators and agribusiness owners based in Ohio can receive an interest rate reduction on loans up to $150,000. Although the exact amount of the discount will be provided to lenders in late March, there is a minimum one percent reduction in place.
We want to help make sure every resource is available to assist Ohio’s agriculture industry, and with the uncertainties in agricultural markets, Ag-LINK can provide significant savings for farmers.
Those interested in Ag-LINK should contact their ag-lender to begin the online loan application process. More information on the Ag-LINK program can be found online at www.ohiotreasurer.gov/aglink.
Robert Sprague is the treasurer of Ohio. His office can be reached at 614-466-2160.