The Alabama Agricultural Development Authority (AADA) is opening applications for a second round under the Alabama Meat Processing Program (AMPP). This program is a result of a $15 million award from the United States Department of Agriculture (USDA) through the Meat and Poultry Intermediary Lending Program (MPILP) to the AADA.
Applications for Phase II are open now and will close June 14, 2024. The low interest loans are intended to support meat and poultry slaughter and processing businesses in Alabama. Loans can be used to purchase or construct new facilities, expand existing facilities, purchase new equipment, cover start-up costs and hire additional employees.
The mission for the AMPP is to expand opportunities for Alabama’s meat producers to improve the marketing of their products. It will also boost Alabama’s rural economy by financing small business owners who want to expand or start a slaughter or processing facility.
Some of the original $15 million allocation has been committed. Applications for the remaining funds will be accepted until June 14, 2024.
For more information and loan application details, please visit the www.agi.alabama.gov/news/usda/mpilp.
Sabrina Halvorson
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.