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A revolving loan fund that focuses on meat and poultry processing will complement and enhance a number of existing state-funded grant programs. We are grateful to USDA for making this investment in a more resilient food system, and we are appreciative of the leadership of Gov. The minimum grant award is $500, 000.

Meat And Poultry Intermediary Lending Program.Html

USDA on Wednesday is rolling out awards for three different programs. 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. 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. Among the projects aided by USDA funding was expansion of cattle slaughter by Greater Omaha Packing Co. by 700 head a day. With their MPPEP investment, they are now prepared to revitalize and modernize their multi-species facility, tripling their throughput. Modernizing or expanding an existing facility. Improving leaseholds. "These are small to mid-sized production facilities, " Vilsack said. We will not be able to respond to direct inquiries regarding the RFQ/P during the solicitation period. The department hopes to have funds available to lend by the end of the first quarter of 2023. Schedule of sources and uses. Meat and poultry intermediary lending program website. To OMB under the normal PRA clearance process. 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. The Center Square) – The Minnesota Department of Agriculture will use $15 million from the U. S. Department of Agriculture for a new revolving loan program for small- and medium-sized meat and poultry processors.

Meat And Poultry Intermediary Lending Program Http

A link to the registration page can be found here. 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. RFQ/P Solicitation, Tentative Release Date: Monday, September 19. USDA will soon take applications for an additional $225 million, which would bring to $375 million the total being spent on independent processing plant projects, the agency said. On Wednesday, USDA Secretary Tom Vilsack announced the Biden administration is investing $223 million in grants and loans to 33 projects across the country. South Dakota Meat and Poultry Intermediary Lending Program recipients are: - GROW South Dakota— $8, 125, 000. Vilsack said USDA had received more than 300 applications for the first round of funding for the projects. 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. He added that USDA expects to announce additional projects in the first round of funding in December or early 2023. Secretary of agriculture announces $223 million investments to expand meat and poultry processing | Livestock | hpj.com. Some 275 jobs would be added with the expansion. The loan program is being administered by the Rural Finance Authority and is in process of being set up. Wildlife and Pollinator Habitat. Financial Instrument.

Meat And Poultry Intermediary Lending Program Etrade

All information is subject to change. Still, "the USDA has no plans to purchase any of these facilities, " he added. 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. All loans require concurrence from USDA on the underwriting recommendation. And add increased cooler and fabrication space. 98 million for expansion at Greater Omaha Packing Co. Vilsack spotlighted the Montana Premium Processing Cooperative, which is a partnership between Montana Farmers Union and Farmers Union Industries. US announces new investments to expand meat and poultry processing capacity - Euromeatnews.com. Increased competition would support farmer income, said the USDA. NON-TRADE-RELATED RATIONALENo. Greater Omaha would add 275 jobs as well. MPILP loans are collateralized by business or personal assets. Funds can be used to purchase land or equipment, cover startup costs and make other business investments. Loan applications will be available in early 2023, the release said. MPPEP was designed to support capacity expansion projects in concert with other private and public finance tools.

Restoring jobs in rural places. "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. The cooperative will create a local USDA-inspected processing facility for independent cattle producers in an area that right now does not have a federally inspected processing plant. Meat and Poultry Intermediary Lending Program. President Joe Biden also started 2022 meeting with producers and laying out his administration's plan to invest as much as $1 billion to expand competition in the meatpacking industry.

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