Meat And Poultry Intermediary Lending Program

Product classification -. 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. They currently ranch near Faulkton. 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. U. S. Department of Agriculture Secretary Tom Vilsack traveled to Omaha, Neb., to make the announcements, touted as part of an effort "to make agricultural markets more accessible, fair, competitive and resilient for American farmers and ranchers. "The National Cattlemen's Beed Association (NCBA) has long advocated for expanded processing capacity to provide cattle producers with additional options for turning their cattle into high-quality beef. Funds can be used to purchase land or equipment, cover startup costs and make other business investments.

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Meat And Poultry Intermediary Lending Program.Html

In Iowa, Pure Prairie Farms Inc., a startup chicken processing facility in Charles City, Iowa, received approval for a $38. 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. 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. Current business balance sheet. MPPEP delivers on President Biden's call to increase competition across the economy to help lower costs for American families. Loans are available in the state of Nebraska.

Meat And Poultry Intermediary Lending Program Louisiana

"So that is something that we would monitor... and that notification will trigger a review by the agency. 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. Gt Ref Id - 480746134. Possible to begin to increase the funds available to lenders to. Meat & Poultry Processing Loans are established under the USDA Meat and Poultry Intermediary Lending Program (MPILP) guidelines. The USDA received more than 300 applicants for the grants, with the impact on the surrounding communities among the factors considered, Vilsack said. Real estate purchase. Additional announcements are expected in the coming weeks. Farm Storage Facility Loan Program (FSFL). Restoring jobs in rural places: Pure Prairie, recently purchased a shuttered poultry plant in Charles City, Iowa, with the goal of returning hundreds of jobs to the small rural community and increasing poultry processing in the upper Midwest.

Meat And Poultry Intermediary Lending Program Reviews

Amortization periods for the MPILP Loan Fund will be from 1 year to 30 years based on the use of funds, with working capital or construction loans being available on terms from 1 to 3 years, equipment or facility upgrades on terms of 3 to 15 years, and construction or real estate on terms of 10 to 30 years. Business bank statements. North Prairie Butchery LLC– $2. Concentration within the meat and poultry sector had. MPILP loans are collateralized by business or personal assets. With 44 USC 3507(j)(2) as amended and 5 CFR 1320. Updated January 21, 2023. To access the technical assistance or for more information, contact Hannah Vargason. 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. Source: Minnesota Department of Agriculture. 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. Credit Ready Meat and Poultry Lending Professional Training - Virtual Series. Making loans to a fund that invests primarily in cooperatives (in accordance with the provisions of the program).

"The president had a number of goals when he set this plan forward last January, " Vilsack said. The loan program is being administered by the Rural Finance Authority and is in process of being set up. The grants range in size from $291, 900 to a startup cooperative in Montana to $19. The RFQ/P is for prospective Learning Lab participants, who should apply through the University System of New Hampshire's Public Solicitation Site. US announces new investments to expand meat and poultry processing capacity. MPPEP was designed to support capacity expansion projects in concert with other private and public finance tools. "This loan program acts as a catalyst for rural prosperity by opening opportunities to expand local and regional processing capacity and increase competition within the meat industry, " says USDA Rural Development Minnesota State Director Colleen Landkamer.

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