Indiana Launches Revolving Loan Program for Small Meat and Poultry Processors

By Andi Anderson

The Indiana Department of Agriculture (ISDA) has commenced the application process for the Indiana Meat and Poultry Intermediary Lending Program, offering a $15 million revolving loan fund aimed at assisting small and very small meat and poultry packers and processors across the state. This initiative aims to provide accessible capital for meat expansion projects, thereby supporting local livestock producers and enhancing community-based processing capabilities.

The program, which began accepting applications on April 1, 2024, seeks to address the need for affordable financing among small-scale processors, enabling them to undertake essential projects for equipment purchase and upgrades, facility enhancements, startup initiatives, packaging improvements, and pollution control measures.

By facilitating access to affordable capital, the program aims to foster the processing of market-ready livestock within local communities, thereby reducing processing delays and strengthening the state's agricultural infrastructure. The Indiana Economic Development Corporation will serve as the intermediary lender, working closely with ISDA to administer the program effectively.

ISDA has also partnered with the Indiana Small Business Development Centers to provide assistance in the development of meat expansion projects and the preparation of loan packages. Through collaborative efforts, the program aims to empower small meat and poultry processors to expand their operations, meet growing demand, and contribute to the vitality of Indiana's agricultural sector.

Eligible applicants can utilize the funds to cover a range of expenses, including equipment and facility upgrades, startup costs, packaging enhancements, and pollution control measures. The program underscores Indiana's commitment to supporting local agriculture and fostering economic development in rural communities.

For small and very small meat and poultry processors seeking affordable financing to bolster their operations, the Indiana Meat and Poultry Intermediary Lending Program offers a valuable opportunity to access the capital needed for growth and expansion.

To learn more about the program and initiate the application process, interested parties can visit the ISDA website or contact the Indiana Economic Development Corporation for further information.

Photo Credit: indiana-state-department-of-agriculture