By Blake Jackson
The Kentucky Agricultural Finance Corporation (KAFC) approved $3,583,856 in loans for 23 agricultural projects at its monthly board meeting.
Agricultural Infrastructure Loan Program
KAFC approved seven Agricultural Infrastructure loans totaling $1,009,350. The loans will be used to finance capital expenditures for agricultural projects, such as permanent farm structures with attached equipment that improves the profitability of farming operations.
Beginning Farmer Loan Program
KAFC approved sixteen Beginning Farmer loans totaling $2,574,506. The loans will be used to finance the purchase of 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.
The following are some of the counties that received loans:
- Adair
- Allen
- Barren
- Breckinridge
- Clark
- Cumberland
- Franklin
- Graves
- Grayson
- Laurel
- Madison
- McLean
- Todd
KAFC is a state-owned corporation that provides financing to Kentucky farmers. The corporation's goal is to promote agricultural development and economic growth in the state.
Photo Credit: istock-arthon-meekodong
Categories: Kentucky, Business