Meat and Poultry Intermediary Lending Program. For a full list of awards under these programs, visit: (PDF, 211 KB). To learn more, visit Joseph R. Biden, Press Release - Biden-Harris Administration Announces First Round of Historic Investments to Increase Competition and Expand Meat and Poultry Processing Capacity Online by Gerhard Peters and John T. Woolley, The American Presidency Project. Reducing barriers to processing: Cutting Edge Meat Company, a facility in Leakesville, Mississippi, provides pork and beef processing for producers in Mississippi, Alabama, Louisiana, and Florida. With 44 USC 3507(j)(2) as amended and 5 CFR 1320. Many of these facilities are located in the middle of the country, and again, relatively small for the most part. "This loan program will help processors increase their capacity to better serve Minnesotans and ease supply chain disruptions we've witnessed over the past several years. Check the notice of the grant at. Direct Farm Operating Loan. Vilsack said USDA had received more than 300 applications for the first round of funding for the projects. By: Sydney Sheffield. Vermont Livestock Slaughter & Processing, Ferrisburgh, Vt., will use MPPEP investment, to modernize their multi-species processing facility, potentially tripling their throughput. MPILP provides grant funding to non-profit intermediary lenders to finance the establishment, expansion, or operation of meat and poultry processing facilities.
To apply for this program, visit for instructions and application materials. Paying for feasibility studies for meat and processing facilities. Applications for the second cycle ($125 million) are being accepted and are due Dec. 31. Completed responses must be submitted electronically by no later than 4:00 p. m. Eastern Standard Time, October 14, 2022, via the USNH Public Solicitation Site. Ultimate recipients must: - Be a business engaged, or proposing to engage, in commercial meat or poultry processing projects; either directly, or through agreements with other entities. And family-owned New Stockton Poultry in Stockton, Calif., sources and processes specialty chickens to meet demand within a variety of immigrant and other communities. A revolving loan fund that focuses on meat and poultry processing will complement and enhance a number of existing state-funded grant programs. The objective of the MPILP is to strengthen the financing system for independent meat processors, and to create a more resilient, diverse and secure the U. food supply chain. OMAHA (DTN) -- Following the fallout over livestock markets and the influence of the country's largest meatpacking companies, USDA on Wednesday announced $223 million in grants and loans to expand meat and poultry processing around the country. Environmental Quality Incentives Program (EQIP). "We think it's going to expand capacity in beef, pork and mixed processing by over 500, 000 per year, " Vilsack said. Eligibility and limitations. Resiliency of the meat and poultry processing sector and the.
Applicants should be willing to provide collateral, but applicants who do not have adequate collateral to pledge will still be considered. Increase capacity for meat and poultry processing. 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. Credit Ready Meat and Poultry Lending – Professional Technical Assistance.
"I think he clearly wanted to increase competition and expand capacity. Meat & Poultry Processing Loans are established under the USDA Meat and Poultry Intermediary Lending Program (MPILP) guidelines. Schedule of sources and uses. Modernizing equipment or facilities to ensure food safety.
2 million to North Prairie Butchery LLC, a proposed small beef and pork combination plant, which is associated with Faulkton rancher Troy Hadrick, according to state business filings. Funding is awarded to the intermediary lender in the form of grants. "It creates new markets, new jobs, and builds our economy. Instructions how to enable JavaScript in your web browser. "We anticipate and expect over 1, 100 jobs be created on an ongoing operational basis, and that doesn't include the construction jobs that will go as a result of the expansion and construction of new facilities. Funding is awarded under USDA's Meat and Poultry Intermediary Lending Program (MPILP). Needs, USDA and the White House agreed to an ambitious timeline, which has been shared publicly, for launch of MPILP and related. Developing, installing, or modernizing equipment and technology. Current business balance sheet. District III, a voluntary association of county, municipal and tribal governments, received $2, 375, 000 to create value-added agriculture alternative opportunities in the 15-county region it represents. "This required a comprehensive approach, it required new programs that would provide resources toward expanding capacity and markets, provide resources for strengthening the supply chain between the farmer and the consumer and making sure there was the availability of credit when the opportunity or circumstances required it.
Product classification -. Capacity will help create a more diverse and secure U. S. food. Supply chain related disruptions. Among the guaranteed loan recipients was FPL Food LLC in Georgia, which was approved for a $24. Most of the grant projects involve facilities that are smaller and would create 10, 20 or 30 local jobs. Inventory as of this Action. Three South Dakota organizations are receiving a large chunk of change from the U. S. Department of Agriculture as part of their efforts to spur competition in the meat and poultry industries nationwide. Loans will be underwritten based on historic and projected cash flows with demonstrated ability to repay being the primary underwriting consideration. The plant is expected to be fully operational by early 2024. All applicant entities must have a current and active registration in the System for Award Management (SAM) in order to file an MPILP application.
Still, "the USDA has no plans to purchase any of these facilities, " he added. The fund will offer low-interest loans for the start-up, expansion, or operation of slaughter and value-added meat and poultry processing. Qualifying taxable corporate bonds. 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. Offsetting start-up costs, working capital, fees, and other expenses related to federal inspection. This cannot be achieved without emergency review. Who are eligible ultimate recipients? The non-profit will be able to use the funds to provide average loans of $500, 000 per business to develop benefiting processors.
Summary - Csra Rural Lending Authority - Meat And Poultry Intermediary Lending Program. It creates new markets, new jobs and builds our economy, " says Colleen Landkamer, USDA Rural Development state director. Additional information on all these programs is available at USDA touches the lives of all Americans each day in so many positive ways. The 21 grant projects include projects in 16 states. The company, based in Omaha, Nebraska, currently processes 2, 400 head daily. Agriculture Secretary Tom Vilsack is expected to visit Omaha on Wednesday to further spotlight one of $73 million in grants that will go to 21 meat-processing projects in the first round of the "Meat and Poultry Processing Expansion Program. Personal tax returns. Vilsack noted that most of the plants would be small and therefore not have to deal with the labor shortages that big plants have had to endure. Addition, the Agency highlights the importance of strengthening. Cutting Edge provides pork and beef processing for producers in Mississippi, Alabama, Louisiana, and Florida. Each loan is unique, and additional documents may be required based on the circumstances of the loan.
Priority for the Biden-Harris Administration. USDA states the goals of the investments are: -. Loans of up to $10 million are available. For more information, contact: Hannah Vargason. Vilsack also added the smaller operations were set up more for providing domestic and local markets. The underlying purpose of these funds is to increase competition, economic opportunities and processing capacities across the economy and in turn, lower food costs for consumers. 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. Minnesota is getting $15 million from USDA to establish a revolving loan program that will support small and medium-sized meat and poultry processors. The Credit Ready series will launch with an initial cohort of 8-10 entities experienced in the meat and poultry processing space that will serve as a "Learning Lab. " To access the technical assistance or for more information, contact Hannah Vargason.
Processing enterprises in America's rural and urban communities. 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. Under the Meat and Poultry Intermediary Lending Program, rural economic development authorities in Georgia, Iowa, Minnesota, Montana, North Carolina, North Dakota and South Dakota received grants that will allow these local economic development groups to provide loans, grants and infrastructure to aid smaller processing facilities in their states as well. The grants range in size from $291, 900 to a startup cooperative in Montana to $19.
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