{"id":125538,"date":"2019-12-05T08:02:02","date_gmt":"2019-12-05T13:02:02","guid":{"rendered":"https:\/\/www.thevwindependent.com\/news\/?p=125538"},"modified":"2019-12-05T08:02:08","modified_gmt":"2019-12-05T13:02:08","slug":"155-loans-made-through-ag-link-program","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2019\/12\/05\/155-loans-made-through-ag-link-program\/","title":{"rendered":"155 loans made through Ag-LINK program"},"content":{"rendered":"\n

Submitted information<\/em><\/p>\n\n\n\n

COLUMBUS\u00a0—\u00a0To help offset losses created by this year\u2019s extreme weather, Ohio\u2019s farmers and agribusinesses took advantage of the Ag-LINK program\u2019s reduced interest loans. Ohio Treasurer Robert Sprague recently announced that 155 new and refinanced loans totaling $18.3 million were made possible through a special Ag-LINK application period he opened this summer.<\/p>\n\n\n\n

\u201cI\u2019m proud to be part of a program that, for more than 36 years, has increased opportunities for Ohio\u2019s agriculture community to operate and thrive,\u201d said Treasurer Sprague. \u201cThis year, Ag-LINK supported farmers and agribusinesses as they worked to curb the losses caused by unpredictable, severe weather. We\u2019re proud to have provided this assistance during a difficult year and we\u2019ll be ready as farmers prepare for next year\u2019s growing season.\u201d<\/p>\n\n\n\n

The Ohio Treasurer\u2019s office administers the Ag-LINK program to help Ohio farm operators and other agricultural businesses finance the up-front operating costs for feed, seed, fertilizer, fuel, and other costs. Treasurer Sprague re-opened the application period<\/a> for the program in July to help provide relief to farmers and agribusinesses impacted by flooding and other extreme weather. The special application period closed November 15.<\/p>\n\n\n\n

Ag-LINK provides an interest rate reduction on agriculture business operation loans at eligible banks and farm credit lenders. Through this round of applications, farm operators and agribusiness owners based in Ohio received a 2% interest rate reduction on loans up to $150,000.<\/p>\n\n\n\n

While the application period for the Ag-LINK program has ended, farmers and agribusinesses impacted by severe weather may be eligible for loans through two other economic development programs offered by the Treasurer\u2019s office. The ReEnergize Ohio four-year program provides qualified small business owners with up to a 3% interest rate reduction on new or existing small business loans up to $550,000. These loans can assist with costs related to the repair or replacement of storm-damaged buildings and equipment. <\/p>\n\n\n\n

Additionally, some small business owners may qualify for the GrowNOW two-year program, which offers up to a 3% interest rate reduction on loans up to $400,000 and is renewable. Under GrowNOW, businesses must commit to creating or retaining at least one full-time or two part-time jobs in the State of Ohio for every $50,000 borrowed.<\/p>\n\n\n\n

More information about ReEnergize Ohio and GrowNOW can be found on the Ohio Treasurer\u2019s website<\/a>.<\/p>\n\n\n\n

A new application period for Ag-LINK is expected to open in early 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Submitted information COLUMBUS\u00a0—\u00a0To help offset losses created by this year\u2019s extreme weather, Ohio\u2019s farmers and agribusinesses took advantage of the Ag-LINK program\u2019s reduced interest loans. Ohio Treasurer Robert Sprague recently announced that 155 new and refinanced loans totaling $18.3 million were made possible through a special Ag-LINK application period he opened this summer. \u201cI\u2019m proud […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-125538","post","type-post","status-publish","format-standard","hentry","category-farm"],"publishpress_future_action":{"enabled":false,"date":"2026-07-31 16:12:24","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/125538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=125538"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/125538\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=125538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=125538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=125538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}