COLUMBUS — After a wet spring, Ohio Treasurer Robert Sprague has reopened the application period for the state’s Ag-LINK program, through which Ohio farm operators and agribusiness owners are eligible for a 2% interest rate reduction on loans of up to $150,000.
“Agriculture is the backbone of Ohio’s economy,” Sprague said in a statement. “But with heavy rain and floods wreaking havoc on fields across the state, we want to make every opportunity available to help offset some of the inevitable losses that come with this level of severe weather.
“The Ag-LINK program can help alleviate some of the borrowing costs for farm operators as they work their way through this extremely difficult growing season.”
The application period has been extended through Nov. 15 and will be open to those who previously received loans, so long as applicants have not hit the $150,000 program limit, the Treasurer’s office announced Monday.
Loans will also be available through ReEnergize Ohio, which offers a 3% interest rate reduction on new or existing small business loans of up to $550,000, and GrowNOW, a two-year program offering up to 3% interest rate reduction on loans of up to $400,000 for businesses.