USDA Announces Loan Guarantee Initiative to Strengthen Food Supply Chain

USDA announced that it is planning for another $100 million from the American Rescue Plan Act that will be used to furnish loan guarantees to help leverage additional funding for expanding meat and poultry processing capacity and financing other food supply chain infrastructure. According to USDA, the loan guarantees will help start-up or expand entities in our food supply chain that aggregate, process, manufacture, wholesale or distribute food; address supply chain bottlenecks; and increase the resiliency of the food supply chain. USDA is preparing to issue a notice soon to announce eligibility requirements and the application window.