By Blake Jackson
The Kentucky Agricultural Finance Corp. (KAFC) approved $3.5 million in loans for 23 agricultural projects across the state at its monthly board meeting. The loans were approved through the Agricultural Infrastructure Loan Program (AILP) and the Beginning Farmer Loan Program (BFLP).
The AILP provides financing to producers making capital expenditures for agricultural projects, such as 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% of the project cost.
The 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, agriculture facilities, permanent working capital, farm real estate, or to invest in a partnership or LLC.
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: pexels-karolina-grabowska
Categories: Kentucky, Business