Kentucky Agricultural Finance Corporation approves $1.7 million in loans
FRANKFURT, Ky. – The Kentucky Agricultural Finance Corporation (KAFC) approved $1,775,290 in 11 agricultural loans for projects across the Commonwealth at its monthly board meeting. Aid boosts agricultural market, beef, poultry and entry-level farmers across the Commonwealth
Agricultural Transformation Loan Program (APLP)
A Agricultural processing a loan totaling $91,000 was approved for an operation in Anderson County. APLP is designed to provide loan opportunities to Kentucky businesses and individuals interested in adding value to Kentucky-grown agricultural products through further processing.
Agricultural Finance Corporation processors are eligible for financing for equipment acquisition, construction of new facilities, renovation/expansion of existing facilities, and permanent working capital up to 50% of project cost.
Beginning Farmer Loan Program (BFLP)
Beginning farmer loans totaling $1,684,290 have been approved for recipients in Anderson ($230,500), Barren ($92,500), Boyle ($250,000), Hardin ($72,500), Hart ($130,000 ), Henry ($135,790), Mercer ($75,000), and three in Warren ($198,000, $250,000, $250,000) counties.
BFLP is designed to help people with some agricultural experience who want to develop, expand or buy a farm business.
Beginning farmers may be eligible for funding to purchase livestock, farm equipment or facilities; secure permanent working capital; for the purchase of agricultural real estate; or to invest in a partnership or LLC.
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