Kentucky agribusinesses could see more financial help coming their way through anew loan program offered by Lexington-based nonprofit Community Ventures.
The nonprofit helps finance businesses and homeowners across the region.
“It will hopefully, you know, reinvigorate our food systems in the economy as well as create jobs for these agro built businesses and help them become strong like they were in the past or even stronger,” Community Ventures President of Everything Equity Shirie Hawkins said.
Community Ventures is offering the loans for any crop growers or meat processors that distribute USDA certified food. They’re being offered on a case-by-case basis to help agriculturalists buy new equipment or otherwise expand.
In particular, Hawkins says it’s meant to help Kentucky agribusinesses that are struggling financially, either because of weather disasters or the COVID-19 pandemic.
“We are very excited that we were awarded these dollars, so that we can, you know, help those agribusinesses in our state get to the next level, or to rebound after COVID and the severe weather conditions that we've had,” Hawkins said.
The loans will be awarded on a case-by-case basis. The $10 million in revolving funds will continue to be made available as payments are made.
Those interested in applying can learn more by emailing shirie.hawkins@cvky.org or greg.doyle@cvky.org, or by calling Community Ventures at 859-231-0054.
