COLUMBUS — The application period for Ohio farmers to participate in the Ohio Treasury’s 2014 Agricultural Linked Deposit Program (Ag-LINK) has opened. Farmers may submit online applications for interest rate reductions on agricultural startup loans through 5 p.m. March 12, Ohio Treasurer Josh Mandel said.
Through Ag-LINK, now in its 29th year of existence, Ohio farmers can apply for an interest rate reduction on new or existing loans or lines of credit up to $150,000.
To participate in Ag-LINK, farms must be for-profit and be headquartered, along with more than half of their operations maintained, in Ohio. To qualify, a farmer must apply and be approved for an operating loan or line of credit from a farm credit lender or eligible bank. After approval, the applicant may apply for an interest rate reduction from the Ohio Treasury’s Ag-LINK program.
Information on the program and eligibility requirements can be found by visiting the State Treasurer’s website at http://j.mp/1bgxpJW or by calling the State Treasurer’s Economic Development Department at 800-228-1102 (Option 3).