State financial aid options available for Ohio farmers

REYNOLDSBURG, Ohio — Ohio Agriculture Director Robert Boggs encourages the state’s farmers to take advantage of the GrowNOW and Agriculture Linked Deposit (Ag-LINK) programs, both financial aid options available through the Ohio Treasurer of State.

The GrowNOW program offers small business owners, which include farmers, up to a 3 percent interest rate reduction on bank loans for two years. Farmers must have less than 150 employees – the majority of which must be Ohio residents.

A small business loan must be obtained from a participating bank, and then an application for the program, available year-round, has to be completed by the farmer and the lender.

The farmer must create or save one full-time or two part-time jobs for every $50,000 requested. A maximum of $400,000 may be requested.

Currently, the Ohio Treasury is accepting applications for the 2010 Ag-LINK cycle. A maximum of $100,000 may be requested.

The application deadline is 5 p.m. March 12.

Applications must be mailed or dropped off at the Ohio Treasury’s office located at 30 E. Broad St., 9th Floor, Columbus, Ohio 43215. For more information about the Ag-LINK or GrowNOW programs, visit www.ohiotreasurer.gov http://www.ohiotreasurer.gov/ or call (800) 228-1102.