Former President Bill Clinton is endorsing former Ohio governor Ted Strickland’s U.S. Senate bid.
Ohio Legislation Would Boost Farm Loan Program
Republicans have proposed Ohio legislation that would give the state more money to make discounted loans available to farmers who want to grow their businesses.
Media outlets report that a House proposal, along with a companion Senate bill, would extend the state’s Agricultural Linked Deposit program, called Ag-LINK.
The program’s maximum annual funding through the state Treasury would increase from $125 million to $165 million. An individual farmer could borrow up to $150,000 at a reduced interest rate, up from $100,000.
The loans allow farmers to buy feed, seed, fertilizer and fuel and pay other operating costs.
Ag-LINK was launched in 1985. The treasurer’s office says it has loaned about $2.8 billion to more than 40,000 Ohio farmers, including more than 800 in 67 counties during 2011.