McLean County is among several communities set to benefit from a new round of agricultural loans approved by the Kentucky Agricultural Finance Corporation.
McLean County is one of four recipients selected for the Agricultural Infrastructure Loan Program (AILP) loans, receiving approval for $62,000.
The Kentucky Agricultural Finance Corporation participates with lenders to help producers secure financing for capital improvements through the Agricultural Infrastructure Loan Program. This support covers projects such as permanent farm buildings with attached equipment that improves the profitability of farm operations. Under this program, producers may be eligible for up to $250,000, not to exceed 50 percent of the project.
During its monthly board meeting on Friday, the Kentucky Agricultural Finance Corporation approved a total of 16 agricultural loans, awarding more than $2.97 million in funding for projects across the Commonwealth.
