Ohio Treasurer Josh Mandel recently announced interest rate reductions offered through the State Treasury's 2013 Agricultural Linked Deposit Program. This year over 592 farms in 56 counties were approved to receive interest rate reductions on $61.6 million in operating loans and lines of credit.
Applications to enroll in the program were accepted from January through March of this year. In order to become eligible for the Ag-LINK program, applicants must meet the following criteria:
Must be organized for profit;
Must have headquarters and 51% of operations maintained in Ohio;
Must obtain an operating loan or line of credit from an eligible bank or Farm Credit Lender;
Must use the loan exclusively for agricultural purposes;
Must agree to comply with all program and bank regulations.
View a breakdown of 2013 Ag-LINK interest rate reductions offered by region and county. For information on the Ag-LINK program, visit www.ohiotreasurer.gov/aglink.