Higher interest rates and inflation are taking a toll on the U.S. agricultural sector, but AgCredit borrower-owners can better weather the uncertainty of shifting economic conditions with financing assistance through the state’s Ag-LINK program.
AgCredit, one of northern Ohio’s largest lenders for farmers and agribusinesses, is proud to be a participating Ag-LINK lender. Administered by the Ohio Treasurer’s office, Ag-LINK offers farming operations and agribusinesses discounted, fixed interest rates on new or existing operating loans for up to one year. Farmers can use the program to help offset the cost of feed, seed, fertilizer, equipment, fuel and other upfront expenses. The program does not cover land purchases.
In the first quarter of 2022, Ag-LINK supported 530 loans to Ohio agricultural businesses across 54 counties totaling more than $103 million.
To qualify, farm operators and agribusinesses must:
- Be organized for profit.
- Have headquarters and 51% of operations maintained in Ohio.
- Use the loan exclusively for agricultural purposes.
- Agree to comply with all program and financial institution regulations.
AgCredit is a member of the nationwide Farm Credit System. To learn more about Ag-LINK, please contact your AgCredit loan officer or visit your nearest AgCredit branch. You can also visit www.AgCredit.net