– In order for agriculture to continue as one of the foundations of the state’s economy, farmers and farms must be effectively supported. Rep. Lee James (R-Venango/Butler) announced today that the agriculture Linked (AgriLink) Investment Program, which provides low-interest loans to qualified farmers and farms, reactivated Monday.
“Farmers have continuously made a significant impact in Pennsylvania,” James said. “Their contributions have paid dividends, and I cannot thank them enough for being a critical component to our society. I am pleased to see them receive another funding option to carry on their good work.”
According to the Department of Agriculture, an eligible farmer is any person, individual, partnership, corporation or legal entity who has legal and financial responsibility for an agricultural operation and is engaged in the management of the agricultural operation. An eligible farm must have developed an approved Act 38 nutrient management plan, a manure management plan, agricultural erosion and sedimentation plan or other approved federal or state conservation program or best management practices (BMPs). BMPs include crop rotation, barnyard and feedlot runoff abatement, and soil or manure testing.
The amount of the loan is based on costs submitted by the farmer for an approved project. However, a loan may not exceed $250,000 and 12 years, may be structured as a construction loan, and the interest rate could fluctuate to account for the subsidy and current market interest rate.
For more information on criteria and how to apply, click here
The program is administered by the Pennsylvania Treasury, in collaboration with the State Conservation Commission.