For six agricultural projects
FRANKFORT, Ky. (Jan. 8, 2016)— The Kentucky Agricultural Finance Corp. (KAFC) today approved $975,875 in six agricultural loans for projects in the commonwealth at its board meeting.
Beginning Farmer Loan Program (BFLP)
Beginning Farmer loans totaled $625,875 for three recipients in Green ($250,000), LaRue ($250,000) and Lincoln ($125,875) counties. 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.
Agricultural Infrastructure Loan Program (AILP)
Three Agricultural Infrastructure loans were approved for a total of $350,000 for recipients in Butler ($100,000) and Warren ($250,000) counties. Through AILP, KAFC participates with lenders to provide financing to producers making capital expenditures for agricultural projects. Eligible projects include permanent farm structures and permanently attached equipment that enhance the profitability of the farming operation.