The Kentucky Agricultural Finance Corp. (KAFC) approved eight agricultural loans totaling $1,483,476 for projects across the Commonwealth at its monthly board meeting, including a $250,000 BFLP loan in Russell County.
Beginning Farmer Loan Program (BFLP)
Seven Beginning Farmer loans totaling up to $1,233,476 were approved. Loan recipients were in Breckinridge ($141,151 and $112,500), Clinton ($232,000), Madison ($117,500 and $130,325), McCreary ($250,000), and Russell ($250,000) counties.
The 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.
Large/Food Animal Veterinary Loan Program (LFAVLP)
One LFAVLP loan totaling $250,000 was approved for a recipient in Bourbon County.
LFVALP is designed to assist individuals licensed to practice veterinary medicine in Kentucky who desire to construct, expand, equip, or buy into a practice serving large animal producers, including goat, sheep, swine, and other smaller food animals.
For more information on KAFC participation loans, contact your lender or Bill McCloskey at Kentucky Office of Agricultural Policy at (502) 382-6093 or email kafc@ky.gov.
