By Blake Jackson
The Kentucky Agricultural Finance Corp. (KAFC) approved seven agricultural loans totaling $856,115 to support farming operations across the state during its monthly board meeting.
Through the Beginning Farmer Loan Program (BFLP), funding was allocated to farmers in seven counties: Bourbon received $116,250, Franklin $25,000, Green $17,790, Hardin $80,325, Madison $250,000, Mercer $116,750 and Todd $250,000.
The BFLP helps individuals with farming experience establish, expand or acquire an interest in an agricultural business. Eligible uses include purchasing livestock, farm equipment and agricultural facilities, securing permanent working capital, buying farmland, and investing in a partnership or limited liability company.
Farmers interested in KAFC participation loans can contact their lenders or reach Bill McCloskey at the Kentucky Office of Agricultural Policy.
McCloskey can be reached at (502) 382-6093 or by email at kafc@ky.gov for additional information about available financing opportunities and program requirements.
Photo Credit: kentucky-agricultural-finance-corporation
Categories: Kentucky, Government & Policy