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Metcalfe, Taylor Co. farmers approved for BFLP loans

From Lisa Tolliver

Frankfort, KY - The Kentucky Agricultural Finance Corp. (KAFC) approved $2,420,905 for 16 agricultural loans for projects across the commonwealth at its monthly board meeting.

Beginning Farmer Loan Program (BFLP)
Ten Beginning Farmer loans totaling up to $1,750,600 were approved. Loan recipients were in Graves ($200,000), Grayson ($250,000), Hart ($182,500), Hopkins ($250,000), Metcalfe ($85,000), Nicholas ($54,625), Taylor ($28,475 and $200,000), and Webster ($250,000 and $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.


Agricultural Infrastructure Loan Program (AILP)
Five Agricultural Infrastructure loans totaling up to $545,305 were approved. Loan recipients were in Clinton ($42,000), Graves ($50,000, $94,305 and $109,000), and Wayne ($250,000) counties. 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. Producers may be eligible for up to $250,000 not to exceed 50 percent of the project.


This story was posted on 2023-09-08 12:39:54
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