Kentucky Agricultural Finance Corporation approves $3,203,498 in loans
14 Jul 2023
FRANKFORT, Ky. — At its monthly board meeting, the Kentucky Agricultural Finance Corporation (KAFC) approved $3,203,498 for 18 agricultural loans for projects across the Commonwealth.
Agricultural Infrastructure Loan Program (AILP)
Three Agricultural Infrastructure loans totaling up to $528,000 were approved. Loan recipients were in Mercer ($28,000) and Trigg ($250,000 and $250,000) counties. KAFC participates with lenders to finance producers’ 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 exceeding 50 percent of the project.