If you are in need of operating funds this spring, I want to remind you of a program that has been around for over twenty years. The Ohio Agricultural Linked Deposit Program can help your lending institution provide you with a reduced interest loan. This program is made possible by the Ohio Treasurer’s Office.<br>
The Treasury does not loan money to the farm or the bank from whom you borrow the money. The Treasurer invests in the bank. If you receive a lower interest link deposit loan from your bank, the Treasurer will purchase an investment with a lower interest from your bank. Your bank then just passes along the interest reduction to you. The state still earns interest on its money but it helps our family farms.<br>
A list of eligible banks is available on line at: www.ohiotreasurer.gov<br>
The Farm Credit System is also an approved lender, but you won’t find it on the list of Ohio banks. You can call the Ohio Treasurer’s Office at 800-228-1102 for more information.<br>
Applications are now available with participating banks and must be received by March 14. Funds will be available to you if you qualify by April 9, 2008.<br>
You must be eligible for a loan from your Ohio bank or the Farm Credit System. Loans are not limited to operating funds, but priority will be given to meet these needs.<br>
You can get your application online or through your bank. Your bank will send your application to the Treasurer. There is very little extra paperwork to receive the lower interest. The maximum funds available for the loan would be $100,000. If your bank is not participating, ask why. It’s a win-win situation!

The views and opinions expressed in this column are those of the author and not necessarily those of Farm World. Readers with questions or comments for Steve Bartels may write to him in care of this publication.