Usda Awards $15M To Minnesota For Meat Processing Businesses, Event Ticket Insurance – We’ve Got You Covered

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. Real estate purchase. Additionally, $75 million will be invested in eight projects through the Meat and Poultry Intermediary Lending Program, as well as more than $75 million for four meat- and poultry-related projects through the Food Supply Chain Guaranteed Loan program. Funding is awarded under USDA's Meat and Poultry Intermediary Lending Program (MPILP). 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. 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. Applications for the second cycle ($125 million) are being accepted and are due Dec. 31. 6 Months From Approved. The USDA established a lending program in part to help smaller players remain independent if they hit a rough patch, Vilsack told reporters. Proof of business ownership. Furthermore, MPILP is a. key plank of the Biden-Harris Action Plan for a Fairer, More.

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The non-profit will be able to use the funds to provide average loans of $500, 000 per business to develop benefiting processors. 09 million grant will help upgrade and triple capacity at the employee-owned facility. Learn more about MPPEP here. Affordable capital to address the ongoing need for meat and poultry. Financial Instrument. Summary - Csra Rural Lending Authority - Meat And Poultry Intermediary Lending Program. Meat & Poultry Processing Loans are established under the USDA Meat and Poultry Intermediary Lending Program (MPILP) guidelines. Loans of up to $10 million will be available at a 3 percent fixed interest rate with a term of up to 10 years. For more information about MPPEP, view the Meat and Poultry Processing Expansion Program page. Underwriting process. Documents: Soft Copy - View. North Prairie Butchery LLC will build a small beef and to build a small beef and pork combination plant with the capacity to process more than 100 animals per week. Business tax returns.

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Once posted, find the RFQ/P in "Business Opportunities Open for Bid, " using this link. Making loans to a fund that invests primarily in cooperatives (in accordance with the provisions of the program). The government's investments play "more to a local and domestic opportunity, " with many recipients in the middle of the country and relatively small, Vilsack said when asked about potential changes to the export landscape. North Prairie Butchery LLC– $2. The Biden administration announced its plan to send $15 million to North Carolina for meat and poultry processing expansion.

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Loans of up to $10 million are available. 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. 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. Constructing a new facility. Vermont Livestock Slaughter & Processing, Ferrisburgh, Vt., will use MPPEP investment, to modernize their multi-species processing facility, potentially tripling their throughput.

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Offsetting start-up costs, working capital, fees, and other expenses related to federal inspection. 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. Updated January 21, 2023. It creates new markets, new jobs and builds our economy, " says Colleen Landkamer, USDA Rural Development state director. According to the project description, "Lewis and Clark Regional Development Council's mission is to develop North Dakota's economy and communities through flexible financing for the start-up, expansion, and operation of entities engaged in primary processing (slaughter) or further processing of meat and poultry, to strengthen the capacity for independent processors, and to help create a more resilient, diverse, and secure U. food supply chain. Personal tax returns. Vilsack said USDA had received more than 300 applications for the first round of funding for the projects. Intermediaries eligible to apply include cooperatives, private nonprofit corporations, public agencies, and federally recognized Tribes that finance – or plan to finance – the start-up, expansion, or operation of meat and poultry processing. No more than $10 million in MPILP grant funds can be used for any single loan. Primary processors must either be USDA inspected or plan to seek USDA inspection, to be eligible. 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.

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As President Biden highlighted earlier this year, creating fairer markets and more opportunities for family farmers helps bring down prices at the grocery store. "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. USDA announces grants through the Meat and Poultry Processing Expansion Program. 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. Most trusted source for Tendering Opportunities and Business Intelligence since 2002. 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.

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. 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. 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. Supporting producer-focused business models. In Omaha, Neb., today, Agriculture Secretary Tom Vilsack will announce $223 million in grants and loans to expand meat and poultry processing capacity and to address supply chain problems. 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. Comply with USDA Food Safety and Inspection Service requirements, or be custom exempt. The announcement is the first round of funding made available through Phase I of MPEPP. Collateral requirements. Loans will be underwritten based on historic and projected cash flows with demonstrated ability to repay being the primary underwriting consideration. 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. The dollars are directed to small and medium-size players in 19 states, some of which are likely to see additional grants. Paying for feasibility studies for meat and processing facilities.

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. 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. With 44 USC 3507(j)(2) as amended and 5 CFR 1320.

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