Anderson, Bourbon, Mercer farm groups get loans for projects

Ag processing and beginning farmer projects funded
LOUISVILLE, Ky. (WTVQ) – The Kentucky Agricultural Finance Corporation (KAFC) approved $911,250 for five agricultural loans for projects across the commonwealth at its monthly board meeting.
Agricultural Processing Loan Program (APLP)
An Agricultural Processing loan totaling $250,000 was approved for an operation in Anderson County.
APLP is designed to provide loan opportunities to companies and individuals in Kentucky interested in adding value to Kentucky-grown agricultural commodities through further processing. Agricultural processors may qualify for financing for acquisition of equipment, construction of new facilities, renovation/expansion of existing facilities and permanent working capital up to 50 percent of the project cost.
Beginning Farmer Loan Program (BFLP)
Beginning Farmer loans totaling $661,250 were approved for recipients in Bourbon ($150,000), Marion ($131,250), Marshall ($250,000), and Mercer ($130,000) counties.
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.
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