News

What's Your Question? 

   

   



Answer

GrowNOW is a program provided by the State Treasurer's office for small business owners. Small businesses that can commit to creating or retaining jobs in Ohio can receive a two-year, 3% interest rate reduction on new or existing loans.

Thank you for your question.

X

I believe government should serve the people. Feel free to contact my office if you have any questions we can assist in answering.

RECENT QUESTION

What does the State Treasurer offer to help small businesses in Ohio?
See Answer »

State Treasury Feed

Show:
Treasurer’s Office Receives Third “Clean” Annual Audit in Three Years
content containter top

Ag-LINK



eligibility


   

ag-link brochureEvery year before the planting season, many Ohio farm operators and other agriculture businesses seek to finance their operating costs for feed, seed, fertilizer and fuel. This program can help offset the impact of these up-front costs by providing an interest rate reduction on a ag operation loan or line of credit from eligible banks and Farm Credit Lenders in partnership with the Ohio Treasurer of State Ag-LINK program.

How does Ag-LINK work?

Through Ag-LINK, Ohio farm operators and other agriculture businesses can apply for an interest rate reduction on new or existing loan or line of credit up to $150,000.  Applications are accepted on an annual basis from January through March (see sample application for information gathering, actual application must be done online with a participating bank).  

Lenders must complete and submit applications online on behalf of their borrowers and use the Banker Login (Banker Guide for Ag-LINK Portal). When an eligible participant’s application is accepted, the Ohio Treasurer’s office places an investment with the financial institution for one year. In turn, the lender lowers the interest rate on the farmer’s loan according to the rate reduction established annually by the Treasurer’s office.

Goal

Agriculture is one of Ohio’s most important industries. It employs one-in-seven Ohioans and pumps over $90 billion into our economy each year. It is important that Ohio farm operators and agriculture businesses receive the help they need to offset the risks of rising fuel costs, unpredictable weather, and variable market prices.

How does Ag-Link help?

For over 29 years, Ag-LINK has been increasing opportunities for Ohio’s farmers to operate and thrive by offering a reduced interest rate on operating loans and credit lines. Since the beginning of Ag-LINK, more than 40,000 farmers have received over $2.8 billion in reduced-rate financing.

Interest Calculation Worksheet

This Excel Sheet is used by banks to calculate the amount of interest due to the Ohio Treasurer on the line of credit loans. The 2015 calculator will be added after the new rate has been set.
content container bottom