KAFC supports Kentucky agriculture with $4.8 million in loan

By Blake Jackson

The Kentucky Agricultural Finance Corporation (KAFC) announced the disbursement of $4.8 million in agricultural loans at its monthly board meeting. These funds aim to bolster the state's agricultural sector through targeted programs.

The Agricultural Infrastructure Loan Program (AILP) awarded five loans totaling $743,786. This program facilitates capital expenditures for farm improvements by Kentucky producers.

Eligible projects in Casey, Graves, and Nelson counties encompass permanent structures and associated equipment, directly impacting operational profitability. The AILP offers financing up to $150,000, covering a maximum of 50% of project costs.

The KAFC approved nineteen Beginning Farmer Loans (BFLP) totaling $4.08 million. Spanning seventeen counties, this program empowers aspiring farmers with agricultural experience. BFLP funds can be used to acquire land, livestock, equipment, or working capital, fostering the establishment or expansion of new agricultural enterprises.

These loans specifically target Adair, Bourbon, Calloway, Christian, and thirteen additional counties.

By strategically allocating funds through these programs, the KAFC demonstrates its commitment to both established and aspiring Kentucky farmers, ensuring the continued strength of the state's agricultural industry.

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.

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