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Applicants can receive an interest rate reduction on new or existing operating loans
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Bạn đang xem: Ohio Treasurer to Offer Enhanced Ag-LINK Savings for Farmers Impacted by 2024 Drought
The Ohio Treasurer’s office will be offering an enhanced Ag-LINK application window for counties most affected by the drought. (Courtesy Image)
COLUMBUS, Ohio — As farmers plan for the upcoming growing season, many are facing hardships and financial strain caused by this year’s drought. In an effort to lessen the burdens caused by these conditions, the Ohio Treasurer’s office will be offering an enhanced Ag-LINK application window for counties most affected by the drought.
“This year’s drought has impacted farmers in many Ohio counties and placed a strain on the agricultural community,” said Treasurer Sprague. “We’re proud to offer an enhanced Ag-LINK window as a way to help farmers, agribusinesses, and co-ops in the communities most impacted by the drought.”
Through Ag-LINK, farmers, agribusinesses, and co-ops can receive an interest rate reduction on new or existing operating loans. For nearly 40 years, the program has helped Ohio’s agriculture community to finance the upfront costs for feed, seed, fertilizer, fuel, equipment, and other expenses.
Starting in January 2025, the Treasurer’s office will offer an application window with enhanced Ag-LINK loan conditions for our agricultural partners in the counties most affected by the drought conditions.
During the enhanced savings window, qualified farmers will benefit from the following program conditions:
- An increased loan cap of up to $750,000
- An enhanced interest rate reduction
- An extended loan period of up to two years
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“The recent drought impacted the operations of many of Ohio’s farmers, so I applaud Treasurer Sprague’s efforts to provide extended accommodations and support through the Ag-LINK program,” said Dr. Cathann A. Kress, Vice President of Agricultural Administration and Dean of the College of Food, Agricultural, and Environmental Sciences at The Ohio State University. “Ohio State University Extension and the college, in alignment with our land-grant mission, look forward to supporting the Treasurer’s efforts to reach farmers where they’re at as they prepare for next year’s growing season.”
The standard Ag-LINK program will remain available for farmers across Ohio in counties not designated as eligible for the enhanced window. Information regarding standard program loan caps and interest rate reductions for 2025 will be available in the coming weeks.
“The Ohio Cattlemen’s Association (OCA) appreciates the announcement by the Ohio Treasurer’s office of new Ag-LINK opportunities to better assist cattle families battling through this year’s historic drought,” said OCA President Mark Goecke of Allen County. “Cattle families in Southern and Eastern Ohio are continuing to struggle with managing their cow herds and preparing for winter hay shortages. These changes to the Ag-LINK program show an understanding of Ohio’s beef industry and will make the program more helpful to those cattle producers who have experienced the greatest losses.”
For more details on the Ag-LINK program and instructions on how to get started, visit www.tos.ohio.gov/ag-link/.
— Ohio Treasurer Robert Sprague
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