Grayson, Ohio and Breckinridge County farmers have received a combined $800,000 in loans from the Kentucky Agricultural Finance Corporation (KAFC).
In total, the KAFC approved $3.5 million for 23 agricultural loans for projects across the state.
The Beginning Farmer Loan Program (BFLP) is providing $125,000 in loans to farmers in Grayson County, while the program is providing $175,000 in loans to farmers in Breckinridge County.
“The BFLP is designed to assist individuals with some farming experience who desire to develop, expand, or buy into a farming operation,” the KAFC said in a press release. “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.”
The Agricultural Infrastructure Loan Program (AILP) is providing both Breckinridge and Ohio County farmers with $250,000 respectively.
“KAFC participates with lenders to provide financing to producers making capital expenditures for agricultural projects through the AILP. Eligible projects include permanent farm structures with attached equipment that improves the profitability of farming operations,” KAFC said.
For more information on the programs offered by the KAFC, contact Bill McCloskey at the Kentucky Office of Agricultural Policy at 502-382-6093 or email kafc@ky.gov.
By Ken Howlett, News Director
Contact Ken at ken@k105.com
