Kentucky Agricultural Finance Corporation approves $1,073,328 in loans and more

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FRANKFURT, Ky. – At its monthly board meeting, the Kentucky Agricultural Finance Corporation (KAFC) accepted $1,073,328 for seven agricultural loans for initiatives across the Commonwealth

Agricultural Infrastructure Lending Program (AILP)

Two agricultural infrastructure loans totaling $250,000 had been approved. Loan recipients were in Barren ($40,000) and Clinton ($210,000) counties. KAFC works with lenders to provide financing to producers who make capital expenditures for agricultural initiatives through the AILP. Eligible initiatives include sustainable agricultural constructions with connected tools that improve the profitability of agricultural operations. Producers could also be eligible for up to $250,000 to not exceed 50% of the mission.

Beginning Farmer Loan Program (BFLP)

Four beginning farmer loans totaling $673,328 had been approved. Loan recipients were in Bourbon ($187,500), Hickman ($190,000), Logan ($45,828), and Mercer ($250,000) counties. The BFLP is designed to help people with some agricultural expertise who want to develop, expand or directly buy a farm business. Beginning farmers may be eligible for funding to purchase livestock, tools or farm equipment; a secure and sustainable working capital; for the acquisition of agricultural real estate; or to speculate in a partnership or LLC.

Diversification through Agribusiness Entrepreneurship Loan Program (DEALP)

A Diversification by Entrepreneurship in Agribusiness mortgage totaling $150,000 has been approved for a beneficiary in Nelson County. DEALP is designed to help agribusiness entrepreneurs acquire, start or expand a business that sells agricultural services or products to farmers or buyers.

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Kentucky Agricultural Finance Corporation approves $1,073,328 in loans

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Kentucky Agricultural Finance Corporation approves $1,073,328 in loans

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Kentucky Agricultural Finance Corporation approves $1,073,328 in loans

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