Ag-Link applications can now be made
Ohio farmers can apply for the Ohio Treasury’s 28th year of the Agricultural Linked Deposit Program. The application deadline is 5 p.m. March 13.
As part of State Treasurer Josh Mandel’s efforts to leverage technology and streamline operations, Ag-LINK has been modernized through recent legislative changes.
The maximum individual loan limit originally enacted more than 25 years ago has been updated to account for rising costs for inputs, such as feed, seed, fertilizer and fuel. Beginning with the 2013 Ag-LINK application, the maximum amount of an individual loan has been raised to $150,000 from $100,000. The Legislature also increased the total funds made available for Ag-LINKin 2013 to $165 million from $125 million.
Lenders will complete and submit the program application exclusively online. To participate in Ag-LINK, farms must be for-profit with their headquarters and 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 an eligible bank. After approval, the applicant may apply for an interest rate reduction from the Ag-LINK program.
Information and requirements can be found at www.ohiotreasurer.gov/aglink or by calling 800-228-1102.