The Kentucky Agricultural Finance Corporation (KAFC) approved $775,000 for four agricultural loans for projects across the commonwealth at its monthly board meeting.
Beginning Farmer Loan Program (BFLP)
Four Beginning Farmer loans totaling $775,000 were approved. Loan recipients were in Mercer ($250,000) and three in Grayson ($135,000, $250,000, and $140,000). BFLP is designed to assist individuals with some farming experience who desire to develop, expand, or buy into a farming operation. 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.
For more information on the programs offered by the KAFC, contact Ali Hulett, loan programs manager, at 502-782-1760 or email kafc@ky.gov.
Categories: Kentucky, Business