$775,000 in beginning farmer loans approved in Mercer, Grayson

The Kentucky Agricultural Finance Company (KAFC) authorized $775,000 for 4 agricultural loans for initiatives throughout the commonwealth at its month-to-month board assembly.

Starting Farmer Mortgage Program (BFLP)

4 Starting Farmer loans totaling $775,000 had been authorized. Mortgage recipients had been in Mercer ($250,000) and three in Grayson ($135,000, $250,000, and $140,000). BFLP is designed to help people with some farming expertise who want to develop, broaden, or purchase right into a farming operation. Starting farmers could qualify for financing to buy livestock, tools, or agriculture services; to safe everlasting working capital; for the acquisition of farm actual property; or to spend money on a partnership or LLC.

For extra info on the applications provided by the KAFC, contact Ali Hulett, mortgage applications supervisor, at 502-782-1760 or e-mail kafc@ky.gov.

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