Ag Finance Corp. approves $ 2.5 million in loans to farmers in Ky. – Lane report

Ag Finance Corp.  approves $ 2.5 million in loans to farmers in Ky.  - Lane report

Five Beginning Farmer loans totaling $869,250 were approved for recipients in Anderson ($202,500), Barren ($236,250), Garrard ($114,000), Graves ($234,000), and Warren ($82,500) counties. BFLP is designed to assist individuals with some farming experience who desire to develop, expand or buy into a farming operation. Beginning Farmer Loan Program (BFLP) Large/Food Animal Veterinary Loan Program (VET) 

Agricultural Processing Loan Program (APLP) Two Agricultural Infrastructure loans totaling $180,000 were approved for recipients in Wayne ($150,000) and Hart ($30,000) 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.

Four Agricultural Processing loans totaling $1,265,000 were approved for recipients in Greenup ($255,000), Fleming ($160,000), Nelson ($350,000), and Pulaski ($500,000) counties. 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 the acquisition of equipment, construction of new facilities, renovation/expansion of existing facilities, and permanent working capital. Agricultural Infrastructure Loan Program (AILP)

Source www.lanereport.com A Large/Food Animal Veterinary Loan was approved for a recipient in Monroe ($150,000) County. The Vet Loan program is designed to assist individuals licensed to practice veterinary medicine in Kentucky who desire to construct, expand, equip or buy into a practice serving large animal producers, including goat, sheep, swine, and other smaller food animals.

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