KAFC Approves $4.5 Million in Agricultural Loans

By Blake Jackson

The Kentucky Agricultural Finance Corporation (KAFC) has approved 23 agricultural loans totaling $4,576,205 to support projects across the Commonwealth, following its recent monthly board meeting.

Agricultural Infrastructure Loan Program (AILP)

Five loans, amounting to $1,004,350, were awarded under the AILP. Recipients were located in Graves ($10,000, $250,000, and $250,000), Ohio ($250,000), and Taylor ($244,350) counties.

This program partners with local lenders to help producers finance capital improvements such as permanent farm structures and attached equipment that enhance farm profitability. Eligible producers may qualify for loans up to $250,000, covering no more than 50 percent of total project costs.

Beginning Farmer Loan Program (BFLP)

Fifteen loans, totaling $2,821,855, were approved under the BFLP. Recipients were located in Clinton ($74,980), Graves ($250,000), Grayson ($62,500 and $152,500), Green ($125,000, $220,000, $250,000, and $250,000), Harrison ($250,000), Logan ($250,000), Marshall ($250,000), McClean ($250,000), Metcalfe ($150,000), Scott ($173,375), and Shelby ($113,500) counties.

This program supports beginning farmers looking to start, expand, or buy into agricultural operations. Financing can be used for purchasing livestock, equipment, or farmland; establishing working capital; or investing in partnerships or agricultural LLCs.

Diversification through Entrepreneurship in Agribusiness Loan Program (DEALP)

Two loans, totaling $500,000, were approved under the DEALP program for projects in Bath ($250,000) and Logan ($250,000) counties. This initiative helps agri-entrepreneurs launch or expand businesses that market agricultural goods or services to farmers and consumers.

Large/Food Animal Veterinary Loan Program (LFAVLP)

One loan of $250,000 was approved for Owen County to support a veterinary practice serving large and food-producing animals.

For details about KAFC participation loans, contact your lender or reach Bill McCloskey at the Kentucky Office of Agricultural Policy at (502) 382-6093 or kafc@ky.gov.

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