a gricultural infrastructure loan program ------------------------------------------------ p articipating loan application -------------
A gricultural Infrastructure Loan Program
------------------------------------------------
P articipating Loan Application
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This application is available on-line at
http://agpolicy.ky.gov/finance/Pages/loan-programs.aspx
Applicant Information
Entity Name:
Farm Serial Number:
Primary Applicant:
Last
First
M.I.
Title
Address:
Street Address
Apt #
County of Project
City
State
ZIP Code
Phone:
( )
Cell:
( )
E-mail Address:
Date of Birth:
SSN:
Employer ID Number (EIN) /
Federal Tax ID Number
Credit Score of Applicant:
Number Co-Applicants:
Each co-applicant must complete a “co-applicant addendum” to submit
with application.
Documentation Check List
Please mark each item that is included in the submitted application.
An incomplete application may delay processing of loan.
All Applicants:
This application must be signed by participating lender.
Without lender’s signature, this application will not be processed.
Lender’s Loan Application, including:
Loan Officer’s Narrative;
Balance Sheet (must be dated within 90 calendar days of application
submission);
Loans Above $50,000: Income Information (Federal Tax Returns) for
Prior Three Years;
Cash Flow for applicant (present year and one-year projection)
*
Detailed Description and Cost Estimate of the Project (include
quotes)
*
Tobacco Dependency Documentation, within previous five (5) years
(only applicable on KAFC requests exceeding $100,000)
Federal Tax Returns
Current Property Evaluation (PVA, Appraisal or Bank Evaluation) on
loan collateral
Addenda for all co-applicants and describe involvement
Participating Lender
For this program, you must have a participating lender.
The participating lender must sign this application before it will be
accepted.
Financial Institution:
Phone 1:
( )
Loan Officer:
Phone 2:
( )
Address:
Street Address
Apt #
City
State
ZIP Code
Cell:
( )
Fax:
( )
E-mail Address:
Loan Request
How will loan funds be utilized?
Total Project Costs:
$
Total Being Financed:
$
Total Invested by Applicant (if applicable):
$
Please include a detailed description of the project and cost estimate.
Amount Financed by Lender:
$
Amount Requested from KAFC:
$
Lender’s Interest Rate:
%
KAFC Interest Rate:
2% (fixed)
Lender Servicing Fee:
(may be no more than 0.75%)
%
Blended Rate:
%
How will this loan be secured for the Lender and KAFC (collateral)?
What are the proposed repayment terms for this loan?
Monthly Quarterly
Semi-Annual Annual
Lender Term:
/ yrs.
KAFC Term (max 15):
/ yrs.
Does 20% of applicant’s income come from farming?
Yes No
Will this loan include a FSA guarantee?
Yes No
This application is valid for 90-days from the date received.
If all required documentation is not received within the 90-day
period, then this application is considered incomplete and will be
marked “expired”. The applicant is welcome to reapply at a later date
when all information is available.
Disclaimer and Signature
All parties listed agree to the accuracy of this application and the
accompanying information, as evidenced by their signatures. Signature
by lender confirms the approval of the referenced loan, pending
confirmation by KAFC. All parties also give KAFC the authority to
exchange information gathered in the evaluation of this loan among
relevant parties.
I hereby authorize the Kentucky Agricultural Finance Corporation to do
the necessary credit and background investigation to facilitate the
evaluation of this loan.
I understand that KAFC is a governmental entity and has the obligation
to inform the public regarding the disbursement of funds. All personal
financial information will remain confidential; however, pursuant to
KRS 61.872, I acknowledge that my name, amount of the loan, and a
general statement summarizing the scope of the project may be released
to the public.
Signature of Applicant:
Date:
Signature of Lender:
Date:
Please return application and all documentation to:
Kentucky Agricultural Finance Corporation 404 Ann Street Frankfort, KY
40601
For more information: Ali Hulett, Loan Programs Manager, (502)
782-1757 / [email protected] or
Bill McCloskey, Deputy Executive Director, (502) 782-1766 /
[email protected]
*KAFC is supported in part by the Kentucky Agricultural Development
Fund*
Governor’s Office of Agricultural Policy / Kentucky Agricultural
Finance Corporation / AILP Application / 2017