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Tue April 10, 2012
KY Agricultural agency OKs $400,000 in farm loans
The Kentucky Agricultural Finance Corporation has approved more than $400,000 in loans to farmers to expand their operations. The agency partners with lenders to help farmers finance projects that would increase their profits. The Kentucky Department of Agriculture announced the latest round of loans Monday. The largest loan topped $110,000. The finance corporation also has a beginning farmer loan program that helps people start or expand a farming operation. Those loans can be used to purchase livestock, equipment and land. They also can be used to build barns and other facilities needed to get into the farming business.