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AgNet

14 MAR

Kentucky Agricultural Finance Corp. approves more than $2.4 million in loans

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


FRANKFORT (March 14, 2025) – The Kentucky Agricultural Finance Corp. (KAFC) approved 17 agricultural loans totaling $2,431,102 for projects across the Commonwealth today at its monthly board meeting.


Agricultural Infrastructure Loan Program (AILP)

Seven Agricultural Infrastructure loans totaling up to $1,153,977 were approved. Loan recipients were in Allen ($250,000), Breckenridge ($250,000), Caldwell ($250,000), Christian ($250,000), McLean ($37,500 and $37,500), and Union ($78,977) counties.


KAFC participates with lenders to provide financing to producers making 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 to exceed 50 percent of the project.


Beginning Farmer Loan Program (BFLP) 

Nine Beginning Farmer loans totaling up to $1,189,625 were approved. Loan recipients were in Adair ($53,250), Daviess ($250,000), Graves ($147,000), Green ($100,000), Logan ($30,000), Metcalfe ($177,500), Monroe ($125,000 and $125,000) and Montgomery ($181,875) 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)

A Diversification through Entrepreneurship in Agribusiness loan totaling up to $87,500 was approved for a recipient in Madison County. 


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 KAFC participation loans, contact your lender or Bill McCloskey at Kentucky Office of Agricultural Policy at (502) 382-6093 or email kafc@ky.gov.