Ag Credit announces AgStart program


Staff report



Ag Credit, ACA – one of northern Ohio’s largest lenders – is proud to announce the availability of a new loan program based upon the recommendation of team members working directly with many young, beginning and small farmers.

The program, known as AgStart, features lower costs, extended terms, reduced down payments and assistance with loan fees. The objective of the program is to make a concentrated and cooperative effort to provide sound and constructive credit to young, beginning and small farmers. Its vision is to help young, beginning and small farmers, as well as women, minorities and veterans engaged in farming and agriculture obtain financing so they may achieve and realize their goals and dreams.

AgStart features three specific “opportunity to succeed” loan programs for young, beginning or small farmers:

AgGrow loans designed to help finance a first- or second-time purchase of farmland or first or second contract livestock production building purchase.

AgGrow loans designed for the purchase of farmland to continue or expand the family farm legacy and/or a long-term investment in agriculture.

AgNiche loans for non-traditional farming operations.

“All farmers face a significant number of challenges. However, young, beginning and small farmers face even greater challenges – lack of production experience, low capital position or limited credit history,” said Brian Ricker, Ag Credit president and chief executive officer. “We designed the AgStart program to help young, beginning and small farmers become involved, to grow or remain in farming as well as to help facilitate the transfer of the farming operation from one generation to the next.”

The mission of the cooperative’s AgStart program is to provide stable credit and leadership resources to nurture young, beginning and small farmers, as well as women, minorities and veterans engaged in farming and agriculture, for their long-term success, as well as working to engage, educate and support these specific groups. Ag Credit focuses on building, nurturing and maintaining lifetime relationships for all customers’ success.

A young farmer is defined as an individual 35 years of age or younger when applying for a loan. A beginning farmer is defined as someone with 10 years or less experience in production agriculture when applying for a loan. If an individual earned less than $250,000.00 in gross farm or agricultural receipts during the previous year, he or she would be considered a small farmer when submitting a loan application.

Staff report

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