STAFF REPORT
Glasgow News 1
The Kentucky Agricultural Finance Corporation announced the approval of two significant loans for Barren County farmer recipients, each worth $250,000. These loans are part of the Beginning Farmer Loan Program, an initiative aimed at aiding individuals with some farming experience to develop, expand, or enter farming operations.
The program assists qualifying farmers by providing the necessary funds to purchase livestock, equipment, agricultural facilities, permanent working capital, or even farm real estate. By supporting fledgling farmers in their endeavors, the program seeks to cultivate long-term growth within the agricultural sector.
A total of 12 loans were approved through the program, totaling $2,438,010.50. Besides the loans granted to Barren County, funding was also distributed to farmers in Breckinridge, Caldwell, Harrison, Hopkins, LaRue, McLean, Meade, Mercer, Todd, and Warren counties.
Key Facts:
– Barren County farmers received two $250,000 loans.
– Total of 12 loans approved under this program, totaling $2,438,010.50.
– Loans also distributed to various counties in Kentucky.
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