LINCOLN — Kate Bolz, U.S. Department of Agriculture Nebraska state director, announced this week that the Biden-Harris administration is investing $30 million in Nebraska to finance the startup and expansion of independent meat processors.
Two Nebraska nonprofits, the Center for Rural Affairs and the Nebraska Enterprise Fund, each will receive $15 million to establish a revolving loan fund to finance the startup, expansion and operation of meat and poultry processors.
“Nebraska families and agricultural producers benefit from this significant investment in the food supply chain,” Bolz said. “Funding for the start-up and expansion of independent meat processing capacity will promote competition, support producer income and create economic opportunity in rural communities.”
Secretary Tom Vilsack announced the new investments at the National Farmers Union convention in San Francisco.
USDA is providing $89 million in grants under the Meat and Poultry Intermediary Lending Program (MPILP) to increase available financing for independent processors, alleviate bottlenecks and create opportunities for small businesses and entrepreneurs in rural communities.
The investments are being made under the second round of the program.
Last fall, USDA awarded $75 million in grants to eight nonprofit lenders in seven states under the first round of the program.
Additional information on the program is available at www.usda.gov/meat.