OHIO   William N. Morgan, Executive Director Ohio Rural Development Partnership A.B. Graham Building 8995 East Main Street Reynoldsburg, OH 43068 Telephone: (614) 466-5495 FAX (614) 728-2652 E-mail Address: bmorgan@mail.agri.state.oh.us Program/Project Title: Family Farm Loan Program Program Began: 1998 Contact Person: Gene Jackson Cost/Funding: $2,246,375.00 Target Group: Ohio farmers who want to start, expand, or begin ag enterprise Description: The Ohio Family Farm Loan Program is a state program which will guarantee up to $200,000 or 40 percent of a bank’s loan (whichever is less) for a new or expanding farm operation. Funds may be used for the purchase of fixed assets including land, building construction/renovation and stationary equipment. The bank can charge the borrower no more than 5 percent interest on the guaranteed portion of the loan. Improved or purchased land assisted by this program must stay in agricultural use for the term of the guarantee, which can be up to 10 years. A minimum down payment of 10 percent is required for all loans and a minimum amount of the loan guarantee is $25,000. Borrowers must provide a project business plan to qualify.   Choose another state ...

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