Contact details - 565656565. The loan program is being administered by the Rural Finance Authority and is in process of being set up. Vilsack said USDA had received more than 300 applications for the first round of funding for the projects. Today, the cattle industry needs more targeted capacity in high-need areas, and we look forward to these facilities launching and expanding operations, " said NCBA Senior Director of Government Affairs Tanner Beymer. Pure Prairie is a group of Iowa, Wisconsin, and Minnesota family chicken farmers that will provide birds for the plant. Lenders provide the loans to eligible cooperatives, corporations, for profits, nonprofits, Tribal communities, public bodies and people in rural and urban areas. Increased competition would support farmer income, said the USDA. The grant recipient is required to provide details of ownership changes within 10 years of receiving the funds to the USDA Rural Business-Cooperative Service. US announces new investments to expand meat and poultry processing capacity. Farm Storage Facility Loan Program (FSFL). More Than $223 Million in Grants and Loans Will Increase Competition and Economic Opportunities for Meat and Poultry Processors and Producers around the Country, and Help Lower Costs for Working Families. C) Copyright 2022 DTN, LLC. The announcement comes after a commitment from President Biden through the American Rescue Plan to expand meat and poultry processing capacity, which in turn increases competition, supports producer income, strengthens the food supply chain, and creates jobs and economic opportunities in rural areas. The Biden administration announced its plan to send $15 million to North Carolina for meat and poultry processing expansion.
The program will be available through the department's Rural Finance Authority. According to the project description, "The Minnesota Meat & Poultry Revolving Loan Program will be managed by the Minnesota Rural Finance Authority (RFA), the agricultural lending arm of the State of Minnesota. BISMARCK, ND (KXNET) — U. S. Department of Agriculture (USDA) Rural Development State Director Erin Oban today announced that USDA Rural Development is investing $471, 525 in North Dakota through the first round of the Meat and Poultry Processing Expansion Program (MPPEP) and $10 million through the Meat and Poultry Intermediary Lending Program. All rights reserved. We will include additional content on expanding access to financing to underserved borrowers to lend deeper into your community, as well as build resilience and reduce greenhouse gas emissions. Document Type - Tender Notices.
Applicants also had to attest that they would create good paying jobs and that they believe they can find the workers for the plants. Greater Omaha would add 275 jobs as well. GROW South Dakota will assist approximately 16 meat and/or poultry processors at an average loan of $500, 000 per business and will inject needed capital into the processing industry and advance economic opportunities. Country - United States. Ft. plant currently processes approximately 130 head of cattle per month. All information is subject to change.
Amortization periods for the MPILP Loan Fund will be from 1 year to 30 years based on the use of funds, with working capital or construction loans being available on terms from 1 to 3 years, equipment or facility upgrades on terms of 3 to 15 years, and construction or real estate on terms of 10 to 30 years. National Sustainable Agriculture Coalition (NSAC) Policy Specialist Connor Kippe said the group "applauds these initial efforts to invest in our small and very small meat processing sector and USDA's dedication to integrating stakeholder input on these programs. "The priority of the Biden Administration to address this challenge created opportunity for North Dakotans, and we are thrilled to award $10, 000, 000 to Lewis and Clark Development Council and nearly $500, 000 to South 40 Beef, both right here in our state. Competitive, and More Resilient Meat and Poultry Supply Chain. The meeting between the minister and the management of INTERPORC took place during his visit to t... Brendan Golden said beef farmers know the impact from the Chinese market and will not be fooled b... The USDA received more than 300 applicants for the grants, with the impact on the surrounding communities among the factors considered, Vilsack said.
Ambrook is not responsible for or able to affect the results of any financial programs listed, nor are they responsible for any incorrect information that is listed or is on the hyperlinked external sites. Per MPILP guidelines, loans will have a rate that is equal to or less than what a particular project may qualify for elsewhere when considering loan risk, loan size, and related factors. In the first round of MPILP, $75 million was awarded to eight lenders in seven states.
The multi-million dollar investment also allocates more than $2. The maximum, aggregate grant award is $15 million, and applicants can apply for funds up to this aggregate amount in more than one cycle. 2 million loan guarantee to buy equipment to produce prepared foods. The Center for Impact Finance (CIF) will serve as lead developer of the training curriculum and overall project manager for the Initiative. In total, these announcements invest over $223 million in grants and loans to support small to mid-sized meat processing facilities. Loans may be available outside of Nebraska if adequate funds remain available.
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