"We think it's going to expand capacity in beef, pork and mixed processing by over 500, 000 per year, " Vilsack said. Natural Resources Conservation Service. Today's announcement is one of many actions that USDA is taking to expand processing capacity and increase competition in meat and poultry processing to make agricultural markets more accessible, fair, competitive, and resilient, and builds upon the Department's efforts to transform the nation's food system. MPILP loans will support the following loan purposes: - Expansion of existing business. 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. Previously Approved. The USDA established a lending program in part to help smaller players remain independent if they hit a rough patch, Vilsack told reporters. The program will support new investments in infrastructure for food aggregation, processing, manufacturing, storage, transportation, wholesaling, and distribution to increase capacity and create a more resilient, diverse, and secure US food supply chain. The Center for Impact Finance also provides Credit Ready Meat and Poultry Lending Professional Technical Assistance to individuals who work at community-based lending institutions (credit unions, CDFIs, and community banks) or other entities eligible for the Meat and Poultry Intermediary Lending Program or the Food Supply Chain Guaranteed Loan Program who are interested in increasing their organizations' financing activity in the meat and poultry processing space. Returned funds will become available to new borrowers.
"The president had a number of goals when he set this plan forward last January, " Vilsack said. Wildlife and Pollinator Habitat. The minimum grant award is $500, 000. These announcements support the Biden-Harris administration's Action Plan for a Fairer, More Competitive, and More Resilient Meat and Poultry Supply Chain, which dedicates resources to expand independent processing capacity, USDA said. Restoring jobs in rural places: Pure Prairie, recently purchased a shuttered poultry plant in Charles City, Iowa, with the goal of returning hundreds of jobs to the small rural community and increasing poultry processing in the upper Midwest. The MPPEP aims to increase competition across the economy to help lower costs for American families, and this announcement is expected to expand meat and poultry processing capacity, which in turn is expected to increase competition, supports producer income and strengthen the food supply chain to lower costs. Nutrient Management. 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.
District III will establish a financial resource that builds District III's lending capacity while focusing on a chronic economic challenge, namely creating value added agricultural alternatives. The North Carolina Agricultural Finance Authority will use the money as an investment for economic recovery from the pandemic. Additional announcements are expected in the coming weeks. USDA's Office of Rural Development has announced that the second round of applications for the Meat and Poultry Intermediary Lending Program (MPILP) will open on November 1, 2022. Strong collateral will not be sufficient to justify loan approval if repayment capacity cannot be established and documented. On 2 November 2022, the U. S. Department of Agriculture (USDA) awarded USD 10 million to the intermediary lender Lewis and Clark Regional Development Council to support meat and poultry processing in North Dakota. In the future, we hope to see even greater alignment in supporting small meat processors across USDA's agencies and services. 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. " MPPEP is part of USDA's initiative to strengthen critical supply chains and the food system. Find the RFQ/P on the University System of New Hampshire (USNH) Public Solicitation Site. This announcement will expand meat and poultry processing capacity, which in turn increases competition, supports producer income, and strengthens the food supply chain to lower costs for working families and create jobs and economic opportunities in rural areas. Businesses engaged or proposing to engage, in the processing of meat or poultry – either directly, or through agreements with other entities – can apply for a loan from the intermediary lender as an ultimate recipient. LCRDC provides business loans under favorable conditions.
⚑ Please report this page in case you detect an inaccuracy in its content. Check back for updates. The awards included $73 million in grants to 21 projects in the first round of the Meat and Poultry Processing Expansion Program, $75 million to eight projects through the Meat and Poultry Intermediary Lending Program and $75 million to four meat and poultry-related through the Food Supply Chain Guaranteed Loan Program. Since the FSCGLP was launched in December 2021, more than $250 million in loans have been guaranteed for projects in the middle of the food supply chain, USDA said. 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. Once posted, find the RFQ/P in "Business Opportunities Open for Bid, " using this link. For More Information. Custom exempt facilities are eligible for our small business loans available here. Undertaking pollution control and abatement. Your browser seems to have cookies disabled. Check the notice of the grant at. Current business balance sheet. USDA is hosting an informational webinar this Thursday, October 27th, at 2 pm ET to discuss the program's purpose, applicant eligibility, and the application process.
Farm Service Agency. Funding is awarded under USDA's Meat and Poultry Intermediary Lending Program (MPILP). The Omaha packer also exports to 70 countries, including being the first packing plant to export beef to China when that market reopened. "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. Approved emergency clearance time period, it must resubmit an ICR. The USDA says it will soon begin taking applications for a new phase to deploy an additional $225 million, for a total of up to $375 million, to provide gap financing for independent processing plant projects that fill a demonstrated need for more diversified processing capacity. Comply with USDA Food Safety and Inspection Service requirements, or be custom exempt. Financing capacity longer term as well as facilitate access to. This information was gathered from public sources. "We anticipate and expect additional announcements in December or early 2023, " Vilsack said. "So that is something that we would monitor... and that notification will trigger a review by the agency. U. S. Department of Agriculture (USDA) Secretary Tom Vilsack announced the money through the first round of the Meat and Poultry Intermediary Lending Program.
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. Purchase of an existing business. The Biden administration announced its plan to send $15 million to North Carolina for meat and poultry processing expansion. Trade name registration, if applicable. Source: Minnesota Department of Agriculture.
Competitive, and More Resilient Meat and Poultry Supply Chain. Rural Development (RD). "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. FOR MORE INFORMATION, OR TO APPLY FOR USDA FUNDING, SEE: OPENING NOVEMBER 1. With this investment, they will significantly increase their capacity and shorten the six-month backlog for processing currently facing producers. Contact details - 565656565. The project sources directly from growers in Minnesota, Wisconsin, and Iowa, who are also shareholders and part owners in the company. Applications for MPILP will close on December 31, 2022.
"This loan program acts as a catalyst for rural prosperity by opening opportunities to expand local and regional processing capacity and increase competition within the meat industry, " says USDA Rural Development Minnesota State Director Colleen Landkamer. To ensure that the Initiative delivers a curriculum based on industry best practices for underwriting, financing, and supporting meat and poultry processing businesses, CIF is seeking lenders, technical assistance providers, and business owners with experience in financing, developing, or operating meat and poultry processing businesses to provide subject matter expertise and function as hands-on curriculum developers. Constructing a new facility. In Iowa, Pure Prairie Farms Inc., a startup chicken processing facility in Charles City, Iowa, received approval for a $38.
Environmental Quality Incentives Program (EQIP). "By jumpstarting independent processing projects and increasing processing capacity, these investments create more opportunities for farmers and ranchers to get a fair price, while strengthening supply chains, delivering more food produced closer to home for families, expanding economic opportunity, and creating jobs in rural America, " said Vilsack. MDA Commissioner Thom Petersen said the MDA's Rural Finance Authority already oversees over $96 million in loans. Future training cohorts will begin in March/April 2023. 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...
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