$250,000 Kentucky Agricultural loan approved for Graves County recipient

The Kentucky Agricultural Finance Corporation (KAFC) approved $2,231,075 for 10 agricultural loans for projects across the commonwealth at its monthly board meeting.

One of those loans is a $250,000 for a recipient in Graves County under the Beginning Farmer Loan Program.

Eight Beginning Farmer loans totaling $1,731,075 were approved in total. Other loan recipients were in Anderson ($246,250), Garrard ($250,000), Hart ($225,000), Madison ($200,000), Marion ($250,000), Owen ($94,000), and Washington ($215,825) 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.

Meanwhile a $250,000 Agricultural Infrastructure loan was approved for a recipient in Wayne County. There was also a $250,000 Agricultural Processing loan approved or an operation in Jefferson County.