Meat And Poultry Intermediary Lending Program – The World Is Yours Clothing Store

July 5, 2024, 8:54 am

Ensuring compliance with occupational and other safety requirements. Minnesota Farmers Union members have championed increased investment in small and medium-sized meat and poultry processors at the state and federal level for several years, notes MFU President Gary Wertish. This information was gathered from public sources. Meat and Poultry Intermediary Lending Program. Minnesota Farmers Union President Gary Wertish said the union's members have championed increased investment in the processors at the state and federal levels. Offsetting start-up costs, working capital, fees, and other expenses related to federal inspection. Developing, installing, or modernizing equipment and technology.

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Application process. Vilsack also added the smaller operations were set up more for providing domestic and local markets. 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. NON-TRADE-RELATED RATIONALENo. 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. The Omaha packer also exports to 70 countries, including being the first packing plant to export beef to China when that market reopened. 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. How can funds be used? Application Instructions. 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. USDA is delivering on the multi-pronged goals of these investments: The investments announced are part of a series of financial assistance tools to support producers and lenders in increasing capacity in the food supply chain. 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.

Meat And Poultry Intermediary Lending Program Loan

Trade name registration, if applicable. The maximum aggregate grant award is $15 million. "I think he clearly wanted to increase competition and expand capacity. "The president had a number of goals when he set this plan forward last January, " Vilsack said. This modern, federally inspected facility will offer livestock producers the ability for custom harvest, packaging, and labeling. Instructions how to enable JavaScript in your web browser. Supporting producer-focused business models. 7 million loan guarantee. MPPEP was designed to support capacity expansion projects in concert with other private and public finance tools. "I think this is a good day for producers, a good day for those interested in working in these facilities, a good day for these communities that will benefit and a good day for consumers, and we're looking forward to these projects taking hold and creating new opportunity, new choices for both producers and consumers. 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. 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. By: Sydney Sheffield. 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.

Meat And Poultry Intermediary Lending Program Application

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. In addition, the business will offer to purchase locally raised, market-ready cattle and hogs to supply retail and wholesale business. "And that was the purpose of this project, which is this effort that the president launched was to basically create local and regional capacity, not getting into the larger production facilities. The announcement is the first round of funding made available through Phase I of MPEPP. Based Cutting Edge Meat Company plans to significantly increase processing capacity and shorten a six-month backlog for processing currently facing producers. Most trusted source for Tendering Opportunities and Business Intelligence since 2002. Credit Ready Meat and Poultry Lending Professional Training - Virtual Series. 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. A partial list of required documents appears below. Loan applications will be available in early 2023, the release said. 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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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. Inventory as of this Action. C) Copyright 2022 DTN, LLC. Real estate purchase. That is not the case with Greater Omaha Packing, however. All rights reserved. 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. Meat & Poultry Processing Loans are established under the USDA Meat and Poultry Intermediary Lending Program (MPILP) guidelines. Improving leaseholds. Information collection is approved as an emergency clearance. "We are elated to see the establishment of a revolving loan program at Minnesota's Rural Finance Authority, " says Gary Wertish, MFU president.

Meat And Poultry Intermediary Lending Program Schedule

Eligibility and limitations. USDA stated meat processing in Vermont "is currently a bottleneck in the region with many producers having to wait significant periods for the service. " Three South Dakota organizations are receiving a large chunk of change from the U. S. Department of Agriculture as part of their efforts to spur competition in the meat and poultry industries nationwide. 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. Acting on a directive from the Biden-Harris administration, the US Department of Agriculture is offering more than $223 million in grants and loans toward growing competition and expanding meat and poultry processing capacity in the United States. The department hopes to have funds available to lend by the end of the first quarter of 2023. For meat and poultry processing in the near term and will build. "USDA Rural Development was given a significant responsibility to design and launch programs that would respond to major challenges that have long-impacted our country's food supply chain and were emphasized and made even more obvious at the height of the COVID-19 pandemic, " said Rural Development State Director Erin Oban. Underwriting process. "We're excited about these projects, " Vilsack said on a call Tuesday with reporters. "It creates new markets, new jobs, and builds our economy. IMPLEMENTATION LEVELNational. 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.

With their MPPEP investment, they are now prepared to revitalize and modernize their multi-species facility, tripling their throughput. Together with this award, USDA provided USD 75 million to 8 lenders in seven states. We are grateful to USDA for making this investment in a more resilient food system, and we are appreciative of the leadership of Gov. "This required a comprehensive approach, it required new programs that would provide resources toward expanding capacity and markets, provide resources for strengthening the supply chain between the farmer and the consumer and making sure there was the availability of credit when the opportunity or circumstances required it. Additional information on all these programs is available at.

A key component for the grants was community support, as well as assurances that jobs would be created and the workforce was available locally for those positions, Vilsack said. The 21 grant projects include projects in 16 states. Capacity will help create a more diverse and secure U. S. food. 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. Applicants are encouraged to review the Self-Screening Guide to assess preliminary eligibility for the program. Among the guaranteed loan recipients was FPL Food LLC in Georgia, which was approved for a $24. MPPEP is part of USDA's initiative to strengthen critical supply chains and the food system. For More Information.

"We think it's going to expand capacity of beef, pork and mixed processing by over 500, 000 head a year, and we think it will expand capacity in poultry of nearly 34 million birds a year.

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