Every year before the planting season, many Ohio farm operators and other agriculture businesses seek to finance their operating costs for feed, seed, fertilizer and fuel. Ag-LINK can help offset the impact of these up-front costs by providing an interest rate reduction on agriculture business operation loans at eligible banks and farm credit lenders.
How does Ag-LINK work?
Through Ag-LINK, Ohio farm operators and other agriculture businesses can apply for an interest rate reduction on a new or existing loan or line of credit up to $150,000. Applications are accepted each year between January and March (view the 2018 Schedule
). Print an application
for information gathering purposes only. The actual application must be completed online through a participating financial institution
Lenders must complete and submit applications on behalf of their borrowers and use the Banker Login
to access the online application (if new to Ag-LINK please reference the Online Portal Banker Guide
for the Ag-LINK Portal). When an eligible participant’s application is accepted, the Ohio Treasurer’s office places an investment with the financial institution for one year. In turn, the lender lowers the interest rate on the farmer’s loan according to the rate reduction established annually by the Treasurer’s office.Goal
Agriculture is one of Ohio’s most important industries. It employs one-in-seven Ohioans and pumps over $90 billion into our economy each year. It is important that Ohio farm operators and agriculture businesses receive the help they need to offset the risks of variable fuel costs, unpredictable weather, and shifts in market prices.How does Ag-Link help?
For over 36 years, Ag-LINK has increased opportunities for Ohio’s farmers to operate and thrive by offering a reduced interest rate on operating loans and credit lines. Since the beginning of Ag-LINK, more than 40,000 applications have been approved for over $3 billion in reduced-rate financing.What is the process?