The Kentucky Agricultural Finance Corp. (KAFC) has approved loans totaling over $3.1 million to support agricultural projects across the state. During its monthly board meeting, KAFC sanctioned 16 loans amounting to $3,123,625.
Three loans under the Agricultural Infrastructure Loan Program (AILP), totaling up to $650,000, were approved for projects in Laurel, Monroe, and Todd counties. These loans aim to assist producers with capital expenditures on permanent farm structures that enhance farming profitability.
A single loan of $150,000 was granted in Gallatin County through the Agricultural Processing Loan Program (APLP). This program supports entities interested in adding value to Kentucky-grown commodities through processing.
Additionally, twelve Beginning Farmer loans amounting to $2,323,625 were approved for recipients in various counties including Anderson, Bourbon, Garrard, Hart, Lincoln, Logan, Marshall, McLean, Monroe, Nelson, and Rockcastle. The Beginning Farmer Loan Program (BFLP) aids individuals with farming experience who wish to expand or establish farming operations.
For further details on KAFC participation loans, individuals are encouraged to contact their lender or Bill McCloskey at the Kentucky Office of Agricultural Policy at (502) 382-6093 or via email at kafc@ky.gov.
Information from this article can be found here.
