By: Ag. Reporter Mollie Goode
The Kentucky Agricultural Finance Corporation approved 17 agricultural loans totaling $3.4 million for projects across the state.
The loans were approved to support beef, forage, and grain producers to encourage expansion and development within the agriculture sectors.
Three Agriculture Infrastructure Loans gave the green light to farmers interested in building farm structures that increase the profitability for farming operation. A total of $750,000 was approved, and some recipients residing in Logan with $250,000 and Trig with $250,000 counties.
The other fourteen loans were approved through the Beginning Farmer Loan Program and totaled a whopping $2,657,175 to assist individuals interested in breaking into the agriculture field. Beginning farmers could qualify for financing to purchase livestock, equipment, agriculture facilities, farm land, or invest in operation partnerships. Loan recipients include Christian with $142,800, Logan with $240,000, Graves with $250,000, and Trigg with $250,000 counties.