COLUMBUS—State Senator Bob Peterson (R-Washington Court House) is helping State Treasurer Robert Sprague spread the word that due to the extreme weather that continues to hurt local farmers, the application period for the Ag-LINK program has been re-opened.
"With many Ohio farmers suffering from flooding and extreme weather, I am happy to see the state taking steps to help alleviate some of their struggles," said Peterson. "The low interest loans available through the Ag-LINK program are a useful tool for overcoming unforeseen barriers to a successful growing season, and I encourage folks in our district to take advantage of this unique opportunity. I want to thank Treasurer Sprague for his commitment to Ohio's farming industry."
Through this round of applications, farm operators and agribusiness owners based in Ohio can receive a 2% interest rate reduction on loans up to $150,000. The addition of a second application period can provide significant savings and much needed relief to farmers and agribusinesses impacted by recent storms and floods.
If a farm operator or other agribusiness applied during the normal open enrollment cycle this year, but did not request the full $150,000 program limit, they can apply for a second enrollment for up to the balance of the program limit. They can print an application for information gathering purposes if needed. However, the actual application must be completed online through a participating financial institution.
“Agriculture is the backbone of Ohio’s economy,” said Treasurer Sprague in a press release. “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.”
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). Note to lenders, you can use the application cloning feature in the portal for existing Ag-LINK participants.
For more information on the application process or eligibility, please click here.