The Kentucky Agricultural Finance Corporation (KAFC) has approved more than $4.9 million for 22 agricultural loans for projects across the commonwealth, including in Caldwell County.
At it’s monthly board meeting, the KAFC approved thirteen Beginning Farmer loans totaling over $2.1 million, including $142,252 for Caldwell County. The Beginning Farmer Loan Program (BFLP) is designed to assist individuals with some farming experience who desire to develop, expand, or buy into a farming operation. State ag officials say 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.
Meanwhile, a Diversification through Entrepreneurship in Agribusiness (DEALP) loan totaling $250,000 was approved for a recipient in Livingston County. Diversification through Entrepreneurship in Agribusiness 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.
