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Ohio Ag News Headlines |
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Ag-LINK Program Achieves Record Savings of $14.1 Million for Ohio Farmers
Ohio Ag Connection - 02/29/2024
The success of Ag-LINK in saving Ohio farmers over $14.1 million in 2023 is indeed commendable. The treasurer's office's proactive approach in working closely with agriculture stakeholders to modernize the program reflects a commitment to addressing the current economic challenges faced by the farming community.
The substantial increase in year-over-year savings, a 594% rise from the previous year, indicates that the reforms implemented have had a significant positive impact. The recognition of high inflation and supply chain issues as factors affecting the cost of doing business, and the subsequent overhaul of Ag-LINK, demonstrates an adaptive response to the evolving needs of the agriculture sector.
The set minimum loan discount of 2.65% for the first quarter of 2024, along with the $500,000 loan cap, provides clear and beneficial parameters for farmers, agribusinesses, and co-ops interested in utilizing Ag-LINK for financing their operations.
The commitment to building upon the success of 2023 and continuing to make significant savings accessible to Ohio’s agriculture industry underscores a long-term vision for supporting the backbone of the state’s economy.
Encouraging farmers and related businesses to explore Ag-LINK as a financing option and providing information on the treasurer's office website reflects transparency and accessibility. By fostering collaboration and understanding the needs of the farming community, Ag-LINK serves as an important tool for ensuring the sustainability of Ohio's agriculture industry.
This announcement showcases a positive and proactive approach by the treasurer's office in supporting and strengthening the vital agricultural sector in Ohio.
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