Relaunch of the Agri-Link investment program offering low-interest loans to farmers


[ad_1]

PA Treasurer Stacy Garrity, Agriculture Secretary Russell Redding, Rep. Rich Irvin and the Chairs of the Senate and House Agriculture and Rural Affairs committees announced the relaunch of the program. investment linked to agriculture (Agri-Link). The program provides low-interest loans to Pennsylvania farms implementing Best Management Practices (BMPs).

“Giving our farmers access to these affordable loans once again will help support farming operations in all corners of the Commonwealth,” said Garrity. “Agriculture is one of the main engines of our state’s economy, and this support will enable farmers to implement new innovative practices.

“The way Pennsylvanians farm today has a powerful impact on our ability to feed a growing population tomorrow,” Secretary Redding said. “Measures to improve soil and water and keep our waterways clean and the growth of our farms come at a substantial cost to farmers. We are pleased to subsidize reduced interest rates through Agri-Link and other PA Farm Bill investments that support the future vitality of our industry and economy.

“Our farmers work hard to feed our nation, and they do so while navigating many complex regulations and mandates,” said Representative Irvin, author of the bill that reinstated the program. “I am happy to see Agri-Link relaunched to help provide financial assistance to farmers who wish to follow established best management practices but lack funds for implementation. “

Agri-Link is open to farmers in 67 counties and offers low interest loans of up to $ 250,000 with terms not exceeding 12 years. More information is available on the Agri-Link page of the Department of Agriculture website.

The agricultural industry directly employs over 300,000 Pennsylvanians and supports nearly 300,000 other jobs statewide. Farm operations across the state have a total economic impact of $ 132.5 billion.

Those interested in applying for the program can do so through their local credit institution or an agricultural credit service institution. County Conservation Districts and CSC review applicants’ projects to determine whether they meet the criteria of Law 37. To be eligible, borrowers must have BMP projects included in an approved nutrient management plan, manure management, agricultural erosion and sedimentation, or other federal or state conservation plans approved by the SCC.

[ad_2]

Comments are closed.