May 9, 2023

Minnesota, US small and medium-sized meat and poultry processors can now access state loans

Small and medium-sized meat and poultry processors in Minnesota, the United States, can apply for loans through the state's Rural Finance Authority.

The programme supports the startup, expansion, or operation of slaughter and value-added processing.

Minnesota Department of Agriculture Commissioner Thom Petersen said investing in local processors is an investment in Minnesota's economy and communities.

USDA Rural Development State Director Colleen Landkamer said the United States Department of Agriculture will continue to work towards giving farmers and ranchers a fair chance to compete in a global marketplace and help lower food costs for US citizens.

Loans of up to US$7 million will be available at a 3% fixed interest rate with a term up to 10 years.

- Brownfield Ag News