By Blake Jackson
The Kentucky Agricultural Finance Corp. (KAFC) approved 16 agricultural loans totaling $2,923,310 during its latest monthly board meeting, providing financial support to farming operations across the state. The funding is aimed at strengthening key sectors such as beef, horticulture, poultry, and grain production.
Under the Agricultural Infrastructure Loan Program (AILP), six loans totaling up to $955,510 were approved. These loans will support projects in Christian, Franklin, Graves, Harrison and Monroe counties, with individual amounts ranging from $27,500 to $250,000. The AILP works with lenders to help producers invest in capital improvements, including permanent farm structures and equipment designed to enhance operational efficiency and profitability. Eligible applicants can receive up to $250,000, covering no more than half of the total project cost.
The Beginning Farmer Loan Program (BFLP) accounted for the largest share of funding, with nine loans totaling $1,845,300. Recipients are located in Ballard, Caldwell, Grayson, Metcalfe, Todd, Warren and Washington counties.
This program supports individuals with farming experience who are looking to start, expand, or transition into agricultural operations. Funding may be used for purchasing livestock, equipment, farmland, working capital, or investing in partnerships and business structures.
Additionally, one loan of $122,500 was approved through the Diversification through Entrepreneurship in Agribusiness Program (DEALP) for a project in Jackson County. This program helps agribusiness entrepreneurs establish or grow operations that provide agricultural products or services.
These investments reflect KAFC’s continued commitment to supporting agricultural growth and sustainability across Kentucky.
Photo Credit: kentucky-agricultural-finance-corporation
Categories: Kentucky, Business, Government & Policy