Growth Loan Fund Provides Funding for Early-Stage Businesses in Minnesota
The Minnesota Department of Employment and Economic Development (DEED) launched the Growth Loan Fund as part of the recently announced $97 million through the State Small Business Credit Initiative (SSBCI) from the U.S. Department of the Treasury. This new program provides direct loans from DEED to technologically innovative seed and early-stage businesses.
Five Points Community Capital, LLC Closes $7.76M NMTC for Texas Meat Distributor
Five Points Community Capital, LLC, a community development entity, announced the closing of a $7.76 million New Markets Tax Credit (NMTC) enhanced loan supporting the relocation and expansion of Houston Meat Distributors, Inc. into their new headquarters which includes a new, state-of-the-art, cold storage facility under construction in Pasadena, Texas.
$700K in Program Funding to Support Food and Seafood Businesses in Rhode Island
Local Agriculture and Seafood Act (LASA) programming funding is available to help new and existing food businesses in Rhode Island grow and flourish. The LASA supports projects that help with the entry, growth, and sustainability of small or starting green sector businesses, with a particular focus on supporting a diversity of foods and food producers.
Greater Commercial Lending Completes $50M for High-Tech Berry Farm in Kentucky
Greater Commercial Lending, which provides loans to businesses and organizations in under-served and rural communities, has completed approximately $50 million in financing for a high-tech berry farm in Somerset, Kentucky. The farm will use up to 90% less water than open field growing and will produce yields up to 30 times greater than those from traditional agriculture,
Lancaster, PA Revolving Water Fund to Improve Water Quality and Carbon Sequestration
The Lancaster Revolving Water Fund, a partnership between the Lancaster Clean Water Partners and the Conservation Innovation Fund, expands the Revolving Water Fund's outcomes-based model into a critical agricultural landscape in Pennsylvania. The fund provides the financial and technical capacity to develop and install agricultural best management practices that reduce pollutants that enter municipal waterways.
New DG Market in Evansville, IN is Getting a Boost From Taxpayers
The Evansville Redevelopment Commission approved an agreement that will route $500,000 in Tax Increment Finance (TIF) to Dollar General, via ECHO Housing Corp., for the build-out of DG Market, including the installation of freezers and chillers required to sell fresh foods. The market is located in the high-poverty Jacobsville, Indiana neighborhood, which became a food desert with the closure of an IGA store.
USDA Announces More Than $71M to Support Underserved Communities
The U.S. Department of Agriculture (USDA) announced a more than $71M investment to help underserved communities through USDA's 2501 Program and the American Rescue Plan Technical Assistance Investment Program. These investments are part of USDA's commitment to take aggressive action to advance equity for all, especially for farmers and producers in underserved communities.
Farmers See Value in Agriculture Loans that Reward Stewardship
Farmers Business Network (FBN), a global farmer-to-farmer network and ag-tech company, launched a new rebate program for farm operating loans. The Regenerative Agriculture Finance Operating Line program includes a 0.5% interest rate rebate for farmers who achieve climate and water quality benchmarks established by Environmental Defense Fund. FBN plans to scale the fund from $25 million to $500 million over the next three years.
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