MPILPLewis & Clark Development Group
Over recent years, the consolidation in the U.S. meat industry has adversely impacted meat and poultry producers and limited consumer choices throughout the nation. The COVID pandemic laid bare the problems caused by consolidation, which hit rural America especially hard.
In response, the Meat and Poultry Intermediary Loan Program (MPILP) was created by USDA Rural Development to fund building new operations and expanding existing meat processing facilities across rural America.
Through a record $15 million USDA Rural Development grant, Lewis & Clark Development Group has
created a Revolving Loan Fund to help North Dakota’s meat producers.
Frequently Asked Questions
What can the MPILP loan be used for?
- The initial round of funding must be a meat or poultry processing facility
- The funds can be used for purchases and development of land, buildings, or infrastructure for public
or private commercial including expansion or modernization
- Funds can be used for equipment, working capital, Startup cost, and more
- Once funds are revolved, funds can be used anywhere in the food chain in between the farm/livestock and grocery store/restaurant
The initial use of MPILP loan funds is restricted. Here is a list of ineligible loan uses:
- Agriculture operations, including the purchasing of seed, livestock, farming equipment, feed, etc.
- Helping a restaurant or a grocery store
- Producing alcoholic beverages, tobacco, or dietary supplements
What are the rates, terms, and conditions?
- Fixed Rate, Please contact Chris Masse for current rate
- Terms of loan will be determined collateral of the project; max will be 30 years on a mortgage
- Applicants must be located within the State of North Dakota via Legal Description
LCD Group’s MPILP expert:
- MPILP Lender
- More than 20 years of experience in personal banking, account resolution, and credit analysis
- Experienced commercial credit processor
- Previously underwrote LCD Group’s loans through the SBA 504 Program, North Dakota Opportunity
Fund, and commercial regional loan programs