It’s been said time and again, and it remains true – agriculture is the backbone of Ohio’s economy. As an industry, it creates jobs, spurs economic development, feeds our families, and instills pride in communities across the Buckeye State.
But the extreme weather of the last several months has taken a serious toll on farmlands across Ohio. In some places, the rain has been so constant, and the fields so flooded, that many Ohio acres are going unplanted. The U.S. Department of Agriculture has tracked planting progress since the 1970s, and few years have proven as challenging as this one.
That is why we the Treasurer’s office recently re-opened the application window for our Ag-LINK reduced interest rate loan program. Through Ag-LINK, qualified farmers and agribusiness owners can receive a 2% interest rate reduction on operating loans up to $150,000. At a time when the weather remains unpredictable and margins may be tight, these reduced rate loans can assist with upfront costs of feed, seed, fertilizer, fuel, and other flood-related costs.
The Ag-LINK application period is currently open and will run through November 15. If you are interested in learning more about the Ag-LINK program and how it can help you, please visit our website (www.treasurer.ohio.gov/aglink) or give us a call at 614-466-6546.