September 20, 2023

New revolving loan fund to set up more meat and poultry processing centers in North Dakota, US

Rural communities in North Dakota, the United States, are getting help they need as the Rural Development Finance Corporation is launching a revolving loan fund to establish more meat and poultry processing centers.

This came after the company received a US$10 million grant from the United States Department of Agriculture.

The programme works with start-up facilities with low-interest loans for meat production.

North Dakota Rural Electric Cooperative's director said it will help the local economy and create jobs.

"It's important to process what we produce here, and it also supports our local food supply chain," said rural development director Lori Capouch. "As you know we have a sparsely populated state and we have difficulty getting producers to our retail, grocery stores, to our schools, to our restaurants."

- KFYR