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Through Ohio Treasury's Renew & Rebuild Ohio linked deposit program, small business owners, farmers, and homeowners affected by the floods and severe weather are now eligible to receive interest rate reductions on loans.

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Treasurer’s Office Receives Third “Clean” Annual Audit in Three Years
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6/26/2012

Governor Signs Law to Improve and Update Ag-LINK Program

COLUMBUS – Governor John Kasich signed a bill into law today to improve and update the Agricultural Linked Deposit (Ag-LINK) program administered by State Treasurer Josh Mandel’s office.  HB 415 was authored by Representatives Robert Sprague (R-Findlay) and Brian Hill (R-Zanesville) and co-sponsored by Senator Bill Beagle (R-Tipp City) and updates the Ag-LINK program to improve its effectiveness.  Among other provisions, the law raises the maximum amount of an individual loan from $100,000 to $150,000, the first time this limit has been increased since it was initially enacted over 25 years ago.  The law also updates from $125 million to $165 million the annual amount that will be available for Ag-LINK deposits.
 
“This new law will make Ag-LINK more effective for Ohio farmers, who have benefited from the program for the last 27 years.  Raising the maximum loan limit will help farmers cover more of the up-front costs of things like feed, seed, fertilizer and fuel under one loan, simplifying and improving the process,” said Treasurer Mandel.  “This new law is just one of the ways we are working hard to improve the Ag-LINK program, recognizing the importance of agriculture to Ohio’s overall economy.”

“As an owner of a family farm, I know firsthand how this bill will benefit Ohio’s agriculture industry,” said Representative Hill. “I applaud Treasurer Mandel and his team, along with the Ohio Farm Bureau, on their hard work with this piece of legislation.”

“The law expands and updates the Ag-LINK Program that has worked for Ohio farmers since the 1980s, but updates and expands it to account for today’s rising cost of inputs, such as seed, fertilizer, and fuel,” said Representative Sprague. “In addition, it keeps money in the local community banks so that they can make loans not only to the agricultural community but also to small businesses to get our economy going.” 

Ag-LINK is an annual program that allows Ohio farmers to apply for interest rate reductions on new or existing operating loans or lines of credit.  In 2012, over 700 farms in 64 counties were approved to receive interest rate reductions on more than $63 million in loans.    

In addition to the legislative changes signed into law today, Treasurer Mandel has improved the Ag-LINK program administratively.  The application was streamlined and improved to make it easier for farmers to apply, and for the first time this year’s entire application process was completed online. 

For more information on the Ohio Treasury’s Ag-LINK program please visit www.OhioTreasurer.gov/AgLink.  

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Office Of Debt Mgmt

The Office of Debt Management plays an important role in the operation of state government: it oversees the borrowing of funds to assure it is completed in an efficient manner.
    

SaveNOW

SaveNOW, a program offered by the State Treasurer through our linked deposit authority, offers a 3% bonus interest on savings accounts for Ohio citizens.
    

Smart Money Choices

A free personal financial-planning conference series for all Ohioans presented by State Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.
    

Top-Bottom Review 2011

Review Outlines Steps to Improve Operations, Safeguard Investments, Leverage Technology, Increase Transparency and Modernize Banking Practices
    

e-Funds Transfer

Electronic Funds Transfers makes tax payments easy. Entities that have received a notice from the Ohio Department of Taxation can register for electronic payment via the website.
    

Veteran's Preference

Veteran’s Preference provides veterans with priority to be accepted into the GrowNOW and Ag-LINK linked-deposit programs.
    

GrowNOW

A partnership between eligible banks and the Ohio Treasury, enables small business owners to receive a 3% interest rate reduction on small business loans for two years with the opportunity for renewal
    

Renew & Rebuild Ohio

Small business owners, farmers and homeowners are eligible to receive financial assistance to rebuild and recover following an emergency.
    

Ag-LINK

A program for farms to receive an interest rate reduction on new or existing loans or lines of credit up to $150,000. Applications are accepted on an annual basis from January through March.
    

CPIM

The Center for Public Investment Management (CPIM) provides continuing education to Ohio’s public funds managers and their oversight authorities.
    

CPIM Conference: Bowling

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Akron

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Dayton

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Columbus

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

ECO-Link

A partnership between the State Treasurer and participating banks that provides a 3% interest rate reduction for 5 or 7 years on bank loans when completing energy-efficient upgrades to your home.