Meat And Poultry Intermediary Lending Program
Authority Name - login to view. For more information, contact: Hannah Vargason. 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. 6 Months From Approved. Asked repeatedly about the possibility that big meat and poultry companies would buy up these small plants, Vilsack and Karama Neal, the administrator for the Rural Business-Cooperative Service, a division of the Rural Development mission area, who is in charge of the program, said that if the plants are to be sold USDA must be notified and that USDA would attempt to provide additional financing if that were needed. Schedule of sources and uses. Please continue to check this webpage for updates about USDA funding, the RFQ/P process, and the training series. 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. "These funds will assist rural entrepreneurs in expanding their businesses, which is welcome news for livestock farmers, " Wertish said. Applications for the second cycle ($125 million) are being accepted and are due Dec. 31. Capacity will help create a more diverse and secure U. S. food.
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Vilsack added, however, that USDA has no plans to buy any of the plants. RFQ/P Response Period. Beyond the 21 grants in the Meat and Poultry Processing Expansion Program, USDA also will provide eight loans through the Meat and Poultry Intermediary Lending Program for $75 million, as well as more than $75 million in loans for four meat and poultry-related projects through the Food Supply Chain Guaranteed Lending Program. Businesses engaged in the processing of meat or poultry can apply for a loan from the intermediary lender as an ultimate recipient. Learn more about MPPEP here.
The new Meat and Poultry Revolving Loan Fund will be available through the Minnesota Department of Agriculture's Rural Finance Authority. Returned funds will become available to new borrowers. Credit Ready Meat and Poultry Lending – Professional Technical Assistance. Reducing barriers to processing. Check back for updates. Ft. plant currently processes approximately 130 head of cattle per month. "We think it's going to expand capacity in beef, pork and mixed processing by over 500, 000 per year, " Vilsack said.
Meat & Poultry Intermediary Lending Program
MPILP loans are collateralized by business or personal assets. To the need to effectively implement the program as quickly as. Financing capacity longer term as well as facilitate access to. Most trusted source for Tendering Opportunities and Business Intelligence since 2002. Undertaking pollution control and abatement. Through investments in small- and medium-size processors, the government seeks to strengthen local and regional food systems, reduce barriers to processing, create jobs and lower costs for consumers by expanding their options for meat and poultry products. That lack of options puts the producer "in a difficult bargaining position, " he noted.
Supporting producer-focused business models. U. S. Department of Agriculture (USDA) Secretary Tom Vilsack announced the money through the first round of the Meat and Poultry Intermediary Lending Program. North Prairie Butchery LLC– $2. The USDA will invest $200 million nationally through two rounds of program grants. Please find all information related to the RFQ/P and direct all questions to the Q&A Board in the USNH Public Solicitation Site. The Learning Lab cohort will help test and refine the training curriculum and other technical assistance resources. 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. 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. All loans require concurrence from USDA on the underwriting recommendation.
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Follow him on Twitter @ChrisClaytonDTN. "The producer in many of these areas today only has one option, or is faced with a significant backlog of processing, " he said. So, I don't think exports are really on the minds of most of these facilities. 9 million grant would allow Greater Omaha to expand from processing 2, 400 head a day to 3, 100 head, which adds up to an additional production of 195, 000 cattle per year. The announcements follow Vilsack's visit to Omaha, Nebraska, where he's expected to tour Greater Omaha Packing Co. to promote the funding initiative. For more information about MPPEP, view the Meat and Poultry Processing Expansion Program page. 7M in grants from USDA meat and poultry program. Trade name registration, if applicable.
Meat And Poultry Intermediary Lending Program Grant
For meat and poultry processing in the near term and will build. The announcement is the first round of funding made available through Phase I of MPEPP. South Dakota Meat and Poultry Intermediary Lending Program recipients are: - GROW South Dakota— $8, 125, 000. USDA is delivering on the multi-pronged goals of these investments: - Supporting producer-focused business models: Montana Premium Processing Cooperative (MPPC), a start-up cooperative, created in partnership with the Montana Farmers Union and Farmers Union Industries, will use MPPEP funds to provide independent producers in Montana with an option for a local USDA inspected meat processing facility in an area that is currently without Federally inspected processing.
"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. Deadline - Dec 31, 2023. Funds can be used to purchase land or equipment, cover startup costs and make other business investments. 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. They currently ranch near Faulkton. An emergency clearance. Additional information on all these programs is available at. Personal tax returns. Among the guaranteed loan recipients was FPL Food LLC in Georgia, which was approved for a $24. MPILP loans are expected to range from $50, 000 to $5 million. Approval for this information collection is formally requested due. 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. Based Cutting Edge Meat Company plans to significantly increase processing capacity and shorten a six-month backlog for processing currently facing producers. The USDA received more than 300 applicants for the grants, with the impact on the surrounding communities among the factors considered, Vilsack said.
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Inventory as of this Action. P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]. Check the notice of the grant at. MPPEP delivers on President Biden's call to increase competition across the economy to help lower costs for American families.
The Planning and Development District III service area includes 3 Tribal Governments – Crow Creek, Lower Brule Sioux and Yankton Sioux; and 15 counties- Aurora, Bon Homme, Brule, Buffalo, Charles Mix, Davison, Douglas, Gregory, Hanson, Hutchinson, Jerauld, Lyman, Sanborn, Tripp and Yankton. Previously Approved. 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. Increased competition would support farmer income, said the USDA.
FOR MORE INFORMATION, OR TO APPLY FOR USDA FUNDING, SEE: OPENING NOVEMBER 1. "It creates new markets, new jobs, and builds our economy. "The president had a number of goals when he set this plan forward last January, " Vilsack said. MPPEP was designed to support capacity expansion projects in concert with other private and public finance tools.
With this investment, they will significantly increase their capacity and shorten the six-month backlog for processing currently facing producers. Vilsack said that part of the evaluation criteria that was considered was community impact and support and that there had been an environmental analysis as part of the review. This cannot be achieved without emergency review. USDA Rural Development Minnesota State Director Colleen Landkamer said the program's a catalyst for rural prosperity since it opens opportunities to expand local and regional processing capacity and increases competition within the meat industry, creating new markets and new jobs. The company, based in Omaha, Nebraska, currently processes 2, 400 head daily.