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EQUIPMENT REVOLVING LOAN PROGRAM
This is Kentucky’s Equipment Loan Revolving Program 59th year of successful assistance to Kentucky’s 121 conservation districts. The program was established by the 1948 General Assembly to provide loans to Kentucky’s conservation districts for heavy and specialized conservation equipment. The equipment is used for the application of conservation and best management practices throughout the state. The districts, through loan-lease agreements with local contractors and farmers, insure that this equipment is made available to do conservation work. Loans are paid off within a specified period of time, usually 35, 48 or 60 months depending on the size of the loan. The interest rate is now 2 percent.
The equipment revolving fund has meant a great deal to Kentucky’s agriculture. Farmers, local contractors, local units of government, conservation districts, and the state’s overall conservation programs have benefited. Many acres have been protected by the conservation practices installed by the equipment purchased through this loan program.
The success of this program, in part or whole, can be attributed to the cooperation between conservation districts, local contractors and landowners, equipment companies, the Kentucky Soil and Water Commission and the Kentucky Division of Conservation through able administration of this program.
The various kinds of equipment that loans have been made on are: Dozers, Excavators, 15 foot No-till Drills, Sprayers, Variable Rate Application & Mapping System, Straw blowers, and Equipment trailers.
For more information on this program contact Dianna Penrod or Wesley Wright at the Conservation District Office at 270-726-1371 or at dianna.penrod@ky.nacdnet.net or wesley.wright@ky.nacdnet.net
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