This bill directs the Department of Agriculture (USDA) to provide loans, loan guarantees, and grants to assist and expand meat processing and rendering.
USDA must establish a loan and loan guarantee program for individuals and entities for the construction, expansion, modification, refurbishment, or re-equipping of meat processing facilities (with less than 500 employees) and rendering facilities (with less than 200 employees).
Those eligible for the program include (1) public, private, or cooperative organizations; (2) Indian tribes; and (3) individual farmers, ranchers, or business owners.
The bill generally prohibits the amount of a loan or loan guarantee from exceeding $50 million. However, USDA may provide a loan or loan guarantee of up to $100 million to public, private, or cooperative organizations for projects that significantly increase meat processing or rendering in a state or region that has insufficient processing or rendering capacity.
USDA must also make grants to establish or support new, innovative, or expanded meat processing or rendering activities, or other activities that will increase the customer base or revenue returns of livestock and poultry producers. Projects may include identifying and analyzing business opportunities, providing technical assistance and training, and incentivizing innovative or mobile enterprises.
Those eligible for the grants are (1) governmental entities; (2) public, private, or cooperative organizations; (3) Indian tribes; and (4) institutions of higher education.
