USDA launches $5 billion SPUR guaranteed loan program for processing
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USDA announced the Strengthening Processing for U.S. Ranchers (SPUR) Guaranteed Loan Program, making at least $5 billion available through lenders for meat, poultry, and seafood processing expansion. Lenders receive a 90 percent guarantee, loans may defer principal and interest for two years, and the maximum loan is $175 million; businesses, nonprofits, cooperatives, and Tribes may apply through participating lenders.
