U.S. Department of Agriculture (USDA) Secretary Tom Vilsack has announced that USDA is deploying $100 million under the new Food Supply Chain Guaranteed Loan Program to make available nearly $1 billion in loan guarantees; these loan guarantees will back private investment in processing and food supply infrastructure that will strengthen the food supply chain for the American people.
USDA is making the funding available through the American Rescue Plan Act. The program is part of the Biden-Harris Administration’s efforts to address food system challenges dating back decades and further exacerbated by the COVID-19 pandemic. These investments will help essential processing and supply chain infrastructure that will ultimately deliver more opportunities and fairer prices for farmers, they will give people greater access to healthier foods, and they will help eliminate bottlenecks in the food supply chain.