A34-Lmcaster Fanning, Saturday, November 25, 2000
Lancaster County Farms Get Low-Interest ‘AgriLink’ Loans
HARRISBURG (Dauphin
Co.) Lancaster County farm
ers Herman Zeager and Merle
Stolzfus are among the first
farmers in Pennsylvania to
receive low-interest nutrient
management loans under the
AgriLink Program administered
by State Treasurer Barbara
Hafer and Agriculture Secretary
Samuel E. Hayes, Jr.
Hafer and Hayes were here
today on Zeager’s farm to
present Zeager with a $52,394
check and Stoltzfus with a
$47,400 check. The AgriLink
loans are helping the farmers
protect the environment
through sound nutrient manage
ment practices.
“This program will help
Pennsylvania’s number one in
dustry to continue thriving
while preserving our rich water
resources,” Hafer said. “This is
an investment in our streams
and the watershed from the Sus
quehanna River all the way
down to the Chesapeake Bay.”
“The AgriLink program is an
effective tool for Pennsylvania’s
livestock producers to consider
as they develop and implement
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THROUGH
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CLASSIFIED
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IN
Lancaster
Farming
PHONE
717-626-1164
OR
717-394-3047
FAX
717-733-6058
Mon., Tues.,
Wed., Fri.
8 AM to 5 PM
Thurs.
7 AM to 5 PM
Best Management Practices on
their farms,” said Secretary
Hayes.
“Each of these projects will
help keep our water pure,”
Hafer added. “So it’s not just an
investment in these farms, it’s
an investment in a cleaner envi
ronment and a brighter future.”
Hafer and Hayes said the new
AgriLink Program was a result
of months of cooperative work
among their departments, the
General Assembly, the Pennsyl
vania Bankers Association, the
Pennsylvania Association of
Community Bankers and the
Pennsylvania Farm Credit Asso
ciations.
Loans are available to farm
owners or operators participat
ing in Pennsylvania’s Nutrient
Management Program. The
loans will cover the costs for
manure storage facilities, im
proved storm water manage
ment practices and other
approved practices under the
Nutrient Management Program.
Farmers with approved nu
trient management plans are eli
gible for loans up to $75,000 at
sharply reduced interest rates,
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From left, representative Tom Armstrong, Craig Zeager, Treasurer Barbara Hafer,
Stan Zeager, Agriculture Secretary Hayes, Herman Zeager, Susan Zeager, and Union
National Community Bank Loan Officer David Bernot.
with loan terms of up to seven
years.
Under the AgriLink Program,
eligible lenders determine each
applicant’s eligibility and deter
mine the interest rate for indi
vidual loans. The Treasury
Department provides loan fund
ing by investing state funds with
participating lenders in the
amounts of approved AgriLink
loans.
The State Conservation Com
mission, with the assistance of
the Agriculture Department,
buys down the interest rates on
loans provided through the pro
gram, resulting in a below
market rate for formers.
Officials said farmers can
receive loans at an interest rate
four percentage points below
market rates, resulting in signifi
cant savings over loans at con
ventional interest rates.
The State Conservation Com
mission, with the assistance
from the Agriculture Depart
ment, administers the program
jointly with the Treasury De
partment. Throughout the state,
more than 160 banks and
branch offices, and 24 Farm
Credit Offices, are eligible to
participate in the program.