Mercer, Boyle, Anderson ag projects get funding

FRANKFORT, Ky. (WTVQ) – The Kentucky Agricultural Finance Corporation approved $1,775,290 in 11 agricultural loans for projects across the commonwealth at its monthly board meeting.

An Agricultural Processing loan totaling $91,000 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 loans totaling $1,684,290 were approved for recipients in Anderson ($230,500), Barren ($92,500), Boyle ($250,000), Hardin ($72,500), Hart ($130,000), Henry ($135,790), Mercer ($75,000), and three in Warren ($198,000, $250,000, $250,000) 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.