Monday, December 20, 2021

PA Treasury: Agri-Link Low-Interest Loan Program Supports Agricultural Best Management Practices

On December 20, Treasurer Stacy Garrity, Secretary of Agriculture Russell Redding, Rep. Rich Irvin, and the chairs of the Senate and House Agriculture & Rural Affairs Committees announced the relaunch of the
Agriculture Linked (Agri-Link) Investment Program

The program offers low-interest loans to Pennsylvania agriculture operations implementing best management practices (BMPs).  Currently, $500,000 is available to support BMPs this fiscal year.

To be eligible, borrowers must have BMP projects included in an approved nutrient management, manure management, agricultural erosion and sedimentation, or other SCC-approved federal or state conservation plans.

Agri-Link is open to farmers in all 67 counties and offers low-interest loans up to $250,000 with terms no longer than 12 years. 

The program was re-established by Act 37 of 2019, and allows the State Conservation Commission at the Department of Agriculture to subsidize qualifying loans. The subsidy is funded by an annual appropriation from the General Assembly for payments to offset interest rates. 

Treasury will pay the lending institution the full value of the qualifying Agri-Link loan. The borrower’s interest rate is reduced by a subsidy provided by the SCC. Borrowers pay back principal and interest to their lenders, and Treasury is paid principal and interest every six months over the life of the loan by the depository institution.

Those interested in applying for the program can do so through their local lending institution or a Farm Credit Service institution. County conservation districts and the SCC review applicants’ projects to determine whether they meet Act 37 criteria. 

Applications can be filed at any time.

Click Here for the complete announcement.

More information is available on the Department of Agriculture’s Agri-Link webpage.

[Posted: December 20, 2021] 
PA Environment Digest

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