The USDA has established a couple of funding initiatives intended to help smooth out the U.S. food supply chain.
The USDA has established a couple of funding initiatives intended to help smooth out the U.S. food supply chain.
The Food Supply Chain Guaranteed Loan Program will make $100 million in funds available to invest in infrastructure for food processing and transportation. It will underwrite $1 billion in loan guarantees. Eligible entities include businesses, cooperatives, public bodies and “food supply chain entrepreneurs.”
The supply chain loan program is separate from a USDA initiative announced this summer that will make $500 million available to expand meat and poultry processing capacity, especially among smaller processors.
In addition, the USDA has established a Local Food Purchase Assistance Cooperative Agreement Program (LFPA) that will award up to $400 million for emergency food assistance purchases of domestic local foods. Local governments will be able to support their farmers and ranchers by buying commodities at a fair price and distributing them to those in need.
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