Krista Buckel
Krista.Buckel@cvky.org
859-231-0054 x1034
1450 North Broadway
Lexington, KY 40505
LEXINGTON, KY. (August 22, 2023) – Community Ventures (CV) today announced that the Kentucky non-profit is now accepting agriculture loan applications from new and existing growers or meat and poultry processors distributing United States Department of Agriculture (USDA) certified food. Financing is available for Kentucky companies engaging in food distribution, transportation, manufacturing, processing, storage, aggregation, or wholesale food supply chain activities.
“Many Kentucky agribusinesses have struggled to rebound from COVID and extreme weather events, and we’ve worked with the USDA and other funders to create financing options to help these businesses get back on their feet or expand,” said Brenda Weaver, CV President of Housing and Lending. “Supporting agribusiness close to home will invigorate our local food systems, economy, and create a more resilient and secure U.S. food supply chain.”
CV is partnering with USDA and other funders to provide financing with a four to six percent interest rate to new and existing agribusinesses dedicated to serving the supply chain. The funds may be used for refinancing. The Kentucky non-profit will provide financing to qualifying applicants until funding has been distributed.
For nearly 40 years, CV has been supporting Kentucky’s agriculture industry by financing the expansion of small and large producers, offering business education, and supplying technical assistance to help enterprises succeed.
“The loan program established by Community Ventures with the USDA funding will be greatly beneficial to Kentucky’s agriculture community,” Kentucky Commissioner of Agriculture Dr. Ryan Quarles said. “Helping agri-businesses essential to food accessibility launch and grow directly impacts the health of our farming communities. I encourage businesses looking to establish or grow their agricultural pursuits to apply for this funding. Creating financially healthy agri-businesses aids all of Kentucky.”
To learn more about agricultural loans with CV, email Vice President of Commercial Lending Greg Doyle at greg.doyle@cvky.org or President of Everything Equity Shirie Hawkins at shirie.hawkins@cvky.org.
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About Community Ventures: Founded in 1982 as a community-based, non-profit organization, Community Ventures (CV) strengthens communities and improves the overall quality of life for Kentuckians by supporting job creation, small business ownership, and home ownership. CV is headquartered in Lexington with branch locations in Bowling Green, Campbellsville, Louisville, Mayfield, Millersburg, and Owensboro. For 21 consecutive years, CV has been named Microlender of the Year by the Kentucky Small Business Administration.