By Blake Jackson
The Kentucky Agricultural Finance Corporation (KAFC) has approved $1,590,265 in loans to bolster agricultural projects across the Commonwealth. This investment is aimed at stimulating rural economies and supporting the growth of the state's agricultural sector.
The funds will be channeled through two key programs:
Agricultural Infrastructure Loan Program (AILP): A total of $817,790 has been allocated to five projects in Allen, Breckinridge, and Green counties. These funds will facilitate the construction of essential farm structures and the acquisition of related equipment. By improving infrastructure, farmers can enhance productivity and profitability.
Beginning Farmer Loan Program (BFLP): Five loans totaling $772,475 have been granted to aspiring farmers in Anderson, Grayson, Meade, Taylor, and Union counties. This program provides crucial financial support to new and emerging agricultural entrepreneurs, enabling them to purchase livestock, equipment, or land, and establish successful farming operations.
KAFC's strategic investment in these programs demonstrates a commitment to fostering agricultural development and strengthening rural communities.
By providing access to capital, the corporation empowers farmers to expand their operations, adopt innovative practices, and contribute to the overall economic vitality of Kentucky.
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.
Photo Credit: kentucky-agricultural-finance-corporation
Categories: Kentucky, Government & Policy