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Additional Investment for Capital Access Loan Programs
Kentucky Ag Connection - 06/02/2020

The Kentucky Agricultural Development Board (KADB) recently approved $5 million for the Kentucky Agricultural Finance Corporation's (KAFC) revolving loan programs.

"During this uncertain time, capital availability for our agriculture industry is extremely important," said Gov. Andy Beshear. "The investment today will ensure that our farmers and producers can continue to provide necessary services and products to the commonwealth."

The KAFC provides financial assistance to individuals and enterprises interested in launching or expanding their agricultural manufacturing or value-added processing operations. This is comprised of investments for the purchase of livestock, land and machinery, the production of agricultural infrastructure and the expansion of agricultureassociated endeavors.

The demand for KAFC participation in agricultural projects has continued to increase since its revitalization in 2004. KAFC assets exceed $89 million, with more than 74 percent of the disbursed portfolio being comprised of Beginning Farmer loans ($56 million), which continue to be a priority of the KADB and KAFC boards. One hundred percent of principal and interest payments received by KAFC are invested directly back into the loan programs.

For more information on the programs offered by the KAFC, contact Ali Hulett, loan programs manager, at 502-782-1760 or visit the KAFC webpage at kafc.ky.gov.


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