Family Farm Loan Program

Phone:  (614) 995-1490

Fax:  (614) 728-2652

E-Mail:  farmloan@agri.ohio.gov

• Borrower must apply for a loan with an eligible financial institution.

• The financial institution will evaluate the application and determine if it can make the loan without a loan guarantee or if it will request from the state a loan guarantee in order to fund the project.

• If a state loan guarantee is requested, the financial institution will forward a "Request for Loan Guarantee Application" to the Ohio Department of Development's Office of Financial Incentives.

• The Ohio Department of Development will verify that the lender's application meets its requirements and then forward the application to the Ohio Department of Agriculture.

• The Agricultural Financing Commission, an independent loan review committee appointed by the Governor, will evaluate the application and make a recommendation to the Director of Agriculture.

Please note that the Agricultural Financing Commission meets the last Thursday of the month to review applications received by the 15th of that month.  Applications received after the 15th will be placed on the agenda for the following month.

• If the loan guarantee is approved by the Director of Agriculture, the application will be forwarded to the Ohio Controlling Board, which must approve release of funds from the Family Farm Loan Fund.  The program administrator will then work closely with the lender to close the loan guarantee.

• Upon completion of the Loan & Guarantee Agreement, which lists the Director of the Ohio Department of Agriculture as lien holder, funds will be disbursed to the lending institution in the form of a certificate of deposit.

Program Description