Agricultural Linked Deposit Program Helps Farmers Offset Operating Funds

Online Ag-LINK Applications Due March 9

Ohio AgriBusiness Association (OABA) members are encouraged to promote the Agricultural Linked Deposit Program (Ag-LINK) with their customers. Having this conversation with your customers provides an extra level of value, as it can help your customers save money on interest rates.

Ag-LINK, sponsored by State Treasurer Josh Mandel, is an effort to help Ohio farmers offset the high costs of operating funds for things like feed, seed, fertilizer and fuel through an interest rate reduction on loans or lines of credit up to $100,000. In Ag-LINK’s more than 20 years of existence, it has helped more than 39,000 farmers receive reduced-rate financing on approximately $2.8 billion dollars.

The Treasurer’s Office is accepting applications from Ohio farmers for Ag-LINK through 5:00 p.m. on March 9. Farmers can complete the application online at http://www.ohiotreasurer.gov/aglink  

To qualify for Ag-LINK, farms must be for-profit with their headquarters and more than half of their operations maintained in Ohio. The farmer must also apply and be approved for an operating loan or line of credit from a farm credit lender or an eligible bank. After approval, the farmer may apply for an interest rate reduction from the Ohio Treasury’s Ag-LINK program. 

For eligibility requirements and detailed information about the Ag-LINK, go to www.ohiotreasurer.gov/aglink or call the State Treasurer’s Economic Development Department at 1-800-228-1102 (choose option three).