"We are grateful for this award from USDA and look forward to its positive impact on the meat and poultry processing industry across Minnesota. Current business balance sheet. Information collection is approved as an emergency clearance. The objective of the Credit Ready Meat and Poultry Lending Initiative is to provide training and technical assistance for nonprofit lenders active or seeking to become active in the meat and poultry processing space (including the Meat and Poultry Intermediary Lending Program and other USDA programs). Trying to create "more, better and new markets" for U. S. producers, the Agriculture Department awarded a total of $223 million in grants, loans, and loan guarantees to expand meat and poultry processing capacity, said Agriculture Secretary Tom Vilsack on Wednesday. Private nonprofit corporations, public agencies, Tribes, and cooperatives that finance – or plan to finance – the start-up, expansion, or operation of meat and poultry processing are eligible to apply.
Funding is awarded under USDA's Meat and Poultry Intermediary Lending Program (MPILP). "This is a clear example of how the Biden Administration is building our economy from the bottom up and middle out, investing in meat and poultry processing facilities that know how to serve their community's unique needs, " she said. Previously Approved. Expanding their capacity and supporting in-state meat processing is a win-win for producers, businesses, and consumers. In the future, we hope to see even greater alignment in supporting small meat processors across USDA's agencies and services. The dollars are directed to small and medium-size players in 19 states, some of which are likely to see additional grants. The department said the loan program will offer 3% fixed interest rate loans with a term of up to 10 years for the start-up, expansion or operation of slaughter and value-added meat and poultry processing.
"The producer in many of these areas today only has one option, or is faced with a significant backlog of processing, " he said. 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. 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. "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.
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. 2 million loan guarantee to buy equipment to produce prepared foods. On Wednesday, USDA Secretary Tom Vilsack announced the Biden administration is investing $223 million in grants and loans to 33 projects across the country. 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. " Competing at scale: Greater Omaha Packing in Omaha, Nebraska, will open new opportunities for cattle producers by expanding their beef processing capacity by 700 head per day. The new Meat and Poultry Revolving Loan Fund will be available through the Minnesota Department of Agriculture's Rural Finance Authority. Still, "the USDA has no plans to purchase any of these facilities, " he added. RFA offers low-interest loan programs to farmers for a wide variety of activities.
By: Sydney Sheffield. Lewis and Clark Regional Development Council will use the $10 million grant to help develop North Dakota's economy and communities through flexible financing for the start-up, expansion, and operation of entities engaged in the primary processing or further processing of meat and poultry. 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. 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. Direct Farm Operating Loan. Asked about whether the agency might be investing in smaller players only to have them get bought out by larger corporations, USDA officials said the agency would be notified of a potential sale or change in ownership under the requirements of the programs announced Wednesday. RFQ/P Solicitation, Tentative Release Date: Monday, September 19. Competitive, and More Resilient Meat and Poultry Supply Chain.
Completed applications for second round of funding must be submitted electronically by no later than 11:59 p. Eastern Standard Time, December 31, 2022, through. The announcement is the first round of funding made available through Phase I of MPEPP. The Biden administration announced its plan to send $15 million to North Carolina for meat and poultry processing expansion. Strengthening Local and Regional Food Systems. 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. As President Biden highlighted earlier this year, creating fairer markets and more opportunities for family farmers helps bring down prices at the grocery store. Environmental Quality Incentives Program (EQIP). "At USDA, we have been focused on developing more markets for our producers by expanding capacity and competition, " said Agriculture Secretary Tom Vilsack during a conference call with journalists to discuss the programs. In total, these announcements invest over $223 million in grants and loans to support small to mid-sized meat processing facilities. Deadline - Dec 31, 2023. The Learning Lab cohort will help test and refine the training curriculum and other technical assistance resources. Vilsack said the goals of these financial investments are to support producer-focused business models, strengthen local and regional food systems, reduce barriers to processing, allow all processors to compete at scale, restore jobs in rural places and empower family-owned businesses.
The grant funds will help to expand their operations to 12, 000 sq. Request for Qualifications/Proposal. 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. Explore hundreds more programs on Ambrook. 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. Grant funds to intermediaries can be used to operate and expand meat and poultry processing capacity by supporting activities such as: - Purchasing and developing land. 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.
"Since President Biden laid out a commitment at the start of this year, USDA has worked tirelessly to give farmers and ranchers a fair chance to compete in the marketplace, which in turn helps lower food costs for the American people, " said USDA Secretary of Agriculture Tom Vilsack. Gt Ref Id - 480746134. "We are elated to see the establishment of a revolving loan program at Minnesota's Rural Finance Authority, " says Gary Wertish, MFU president. He wanted to strengthen the supply chain, and I think he wanted to make sure that we fostered a producer-focused business model, strengthen local and regional food systems, reduce barriers to processing, do things at scale, help create jobs and over time, lower costs to consumers by expanding choice. Who are eligible ultimate recipients? Collateral requirements. Purchase of an existing business. Vilsack said USDA had received more than 300 applications for the first round of funding for the projects. Making loans to a fund that invests primarily in cooperatives (in accordance with the provisions of the program). NON-TRADE-RELATED RATIONALENo. Among the requirements for receiving the grants were assurances that the grant recipients do not end up being swallowed up by the largest packers in the country as a result. IMPLEMENTATION LEVELNational. The USDA established a lending program in part to help smaller players remain independent if they hit a rough patch, Vilsack told reporters. Nutrient Management.
The maximum, aggregate grant award is $15 million, and applicants can apply for funds up to this aggregate amount in more than one cycle. The grants range in size from $291, 900 to a startup cooperative in Montana to $19. "We're excited about these projects, " Vilsack said on a call Tuesday with reporters. Farm Service Agency. The minimum grant award is $500, 000. "These are small to mid-sized production facilities, " Vilsack said. Please continue to check this webpage for updates about USDA funding, the RFQ/P process, and the training series. AFFECTED FLOWInflow. According to USDA's Rural Development Food Systems Transformations chart, GROW South Dakota, which is based in Sisseton, received $8, 125, 000 to assist approximately 16 meat and/or poultry processors in the state. Inventory as of this Action. READ MORE: Time to defend cattle?
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. Farm Storage Facility Loan Program (FSFL). Each loan is unique, and additional documents may be required based on the circumstances of the loan. Returned funds will become available to new borrowers. Application process. Undertaking pollution control and abatement. The 21 grant projects include projects in 16 states. The non-profit will be able to use the funds to provide average loans of $500, 000 per business to develop benefiting processors. Once posted, find the RFQ/P in "Business Opportunities Open for Bid, " using this link.
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