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KAFC approves over $770K in area BFLP loans From Madison Pergrem Frankfort, KY - The Kentucky Agricultural Finance Corp. (KAFC) approved 17 agricultural loans totaling $3,407,175 for projects across the Commonwealth today at its monthly board meeting. Fourteen Beginning Farmer Loans (BFLP) totaling up to $2,657,175 were approved, in the following counties:
Beginning farmers may qualify for financing to purchase livestock, equipment, or agriculture facilities; to secure permanent working capital; for the purchase of farm real estate; or to invest in a partnership or LLC. Agricultural Infrastructure Loan Program (AILP) Three Agricultural Infrastructure Loans totaling up to $750,000 were approved. Loan recipients were in, Logan ($250,000), Monroe ($250,000), and Trigg ($250,000) counties. KAFC participates with lenders to provide financing to producers making capital expenditures for agricultural projects through the AILP. Eligible projects include permanent farm structures with attached equipment that improves the profitability of farming operations. Producers may be eligible for up to $250,000 not to exceed 50 percent of the project. For more information on the programs offered by the KAFC, contact Bill McCloskey at Kentucky Office of Agricultural Policy at (502) 382-6093 or email kafc@ky.gov. This story was posted on 2024-11-08 14:25:20
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