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\nThe Kentucky Agricultural Finance Corporation approved 16 agricultural loans totaling $3,412,125 for projects across the state Friday.<\/p>\n
\nThe Kentucky Agricultural Finance Corporation approved 16 agricultural loans totaling $3,412,125 for projects across the state Friday.<\/p>\n
According to the release, the corporation participates with lenders to provide financing to producers making capital expenditures for agricultural projects through the Agricultural Infrastructure Loan Program. Eligible projects include permanent farm structures with attached equipment that improve the profitability of farming operations. Producers may be eligible for up to $250,000, not to exceed 50 percent of the project.<\/p>\n
Three Agricultural Infrastructure loans totaling up to $595,000 were approved. Loan recipients were in:<\/p>\n
Calloway County: $250,000
\nGraves County: $250,000
\nWarren County: $95,000<\/p>\n
Agricultural Processing Loan Program is designed to provide loan opportunities to companies and individuals in Kentucky interested in adding value to Kentucky-grown agricultural commodities through further processing.<\/p>\n
Agricultural processors may qualify for financing for:<\/p>\n
The acquisition of equipment
\nThe construction of new facilities
\nRenovation\/expansion of existing facilities
\nPermanent working capital up to 50 percent of the project cost
\nTwo Agricultural Processing loans totaling up to $430,000 were approved. Loan recipients were in:<\/p>\n
Garrard County: $180,000
\nHardin County: $250,000<\/p>\n
Beginning Farmer Loan Program 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:<\/p>\n
To purchase livestock, equipment, or agricultural facilities
\nTo secure permanent working capital
\nFor the purchase of farm real estate
\nor to invest in a partnership or LLC<\/p>\n
Eleven Beginning Farmer loans totaling up to $2,387,125 were approved. Loan recipients were in:<\/p>\n
Barren County: $155,000 and $225,000
\nBoone County: $250,000
\nBreckenridge County: $250,000
\nCumberland County: $112,625
\nGreen County: $250,000
\nHarrison County: $250,000
\nLarue County: $250,000
\nLincoln County: $250,000
\nScott County: $250,000
\nWayne County: $144,500<\/p>\n
For more information on Kentucky Agricultural Finance Corporation participation loans, contact your lender or Bill McCloskey at the Kentucky Office of Agricultural Policy at (502) 382-6093 or email kafc@ky.gov.
\nSource: WBKO<\/p>\n","protected":false},"excerpt":{"rendered":"
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