For Immediate Release
Contact:
Marielle McElmurray
(502) 782-1731
(502) 229-6348
marielle.mcelmurray@ky.gov
FRANKFORT, Ky. (Mar. 8, 2019) -The Kentucky Agricultural Finance Corp. (KAFC) approved $2,450,830 in agricultural loans for projects in the Commonwealth at its board meeting today.
Beginning Farmer Loan Program (BFLP)
Fourteen Beginning Farmer loans totaled $2,450,830 for recipients in Clark ($250,000), Daviess ($349,330), Graves ($246,500), Grayson ($45,000), Marshall ($49,000), Mercer ($125,000), Montgomery ($140,000), Nelson ($58,500), Todd ($187,500), Trigg ($750,000), and Webster ($250,000) 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.
For more information on the programs offered by the KAFC, contact Sadie Middleton, Loan Programs Manager, at (502) 782-1757 or visit the KAFC webpage at kafc.ky.gov.
The Kentucky Agricultural Finance Corporation (KAFC), chaired by Kentucky’s Agriculture Commissioner Ryan Quarles, provides capital access for agricultural diversification and infrastructure projects. To date, KAFC has approved more than 975 projects and committed more than $130 million.
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