Financing bolsters beef, forage, poultry, and grain farmers across the Commonwealth

FRANKFORT, Ky. (Aug. 9, 2024) – The Kentucky Agricultural Finance Corp. (KAFC) approved $2,037,953 for 10 agricultural loans for projects across the Commonwealth at its monthly board meeting. 

Beginning Farmer Loan Program (BFLP) 

Eight Beginning Farmer loans totaling up to $1,565,453 were approved. Loan recipients were in Ballard ($180,000), Calloway ($250,000), Fleming ($113,953), Graves ($250,000 and $250,000), Metcalfe ($250,000), Perry ($47,500), and Wayne ($224,000) 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. 

Diversification through Entrepreneurship in Agribusiness Program (DEALP)

Two Diversification through Entrepreneurship in Agribusiness loans totaling $472,500 were approved. Loan recipients were in Marshall ($222,500) and Pulaski ($250,000) counties. DEALP is designed to assist agri-entrepreneurs with the purchase, establishment or expansion of a business that sells agricultural products or services to farmers or consumers.

For more information on the programs offered by the KAFC, contact Bill McCloskey at Kentucky Office of Agricultural Policy at (502) 382-6093 or email kafc@ky.gov.