Family Farm Loan Program

Phone:  (614) 995-1490

Fax:  (614) 728-2652

E-Mail:  farmloan@agri.ohio.gov

PROGRAM DETAILS AND GUIDELINES

• The State will guarantee 40% of a bank loan.

• The maximum of the guaranteed amount is $200,000.  The minimum is $25,000.

• The length of the guaranteed portion of the loan is limited to ten years.

• The interest rate on the guaranteed portion cannot exceed 5%.

• Program funds can be used for land acquisition; to construct, re-construct, remodel, renovate, re-habilitate, enlarge, or improve buildings to be used for agricultural purposes; stationary equipment and fixed assets.

• Program funds cannot be used for re-financing, working capital, inventory or receivables, speculative real estate development, re-location costs or the purchase of rolling stock or livestock.

• An eligible applicant receiving financial assistance under the Family Farm Loan Program is not precluded from further participation in this or any other state financial program.

Program Description