KADB Offers Additional Investment for Capital Access Loan Programs
Governor's Office of Agricultural Policy
FRANKFORT, Ky. (April 19, 2019) — The Kentucky Agricultural Development Board (KADB) recently approved $5 million for the Kentucky Agricultural Finance Corporation’s (KAFC) revolving loan programs.
“The investment of KADF in the Kentucky Agricultural Finance Corporation’s loan programs ensures the long term of effect of these funds for Kentucky Agriculture,” said Warren Beeler, Governor’s Office of Agricultural Policy executive director.
The KAFC provides financial assistance to individuals and enterprises interested in launching or expanding their agricultural manufacturing or processing operations. This is comprised of investments for the purchase of livestock, land and machinery, the production of agricultural infrastructure and the expansion of agriculture-associated endeavors.
The demand for KAFC participation in agricultural projects has continued to increase since its revitalization in 2004. KAFC assets exceed $82 million, with over 68 percent of the disbursed portfolio being comprised of Beginning Farmer loans ($52 million), which continue to be a priority of the KADB and KAFC Boards. One hundred percent of principal and interest payments received by KAFC are invested directly back into the loan pool.
For more information about financing options available through KAFC, contact Sadie Middleton, Loan Programs Manager, at (502) 782-1757 or visit the KAFC webpage at kafc.ky.gov.