North American Bison receives $6.2M USDA loan guarantee

U.S. Department of Agriculture (USDA) Rural Development State Director Erin Oban announced today that USDA RD is making investments that will create new and better markets for a bison processing facility in North Dakota.

“This $6.2 million loan guarantee to support the past success and future growth of North American Bison is one more example of USDA Rural Development’s commitment to rural communities, small businesses, ag producers, and consumers,” said Oban. “This investment will provide critical funding to one of the few bison processing facilities located in North Dakota, and we’re honored to be a partner in assisting with the expansion of their operation.”

USDA is making investments worth $320 million to strengthen food supply chains and create more opportunity for producers and entrepreneurs in 19 states: Alabama, California, Connecticut, Iowa, Idaho, Kentucky, Massachusetts, Michigan, Minnesota, Montana, North Carolina, North Dakota, New Hampshire, New York, Ohio, Oklahoma, Pennsylvania, Texas and Virginia.

In North Dakota, North American Bison LLC, which has been in operation since 2009, will use a $6,200,000 loan to provide long-term financing for expansion of their facility in New Rockford. The 18,000 sq.ft. expansion will be used to increase their bison processing by 50% and will add up to 18 jobs.

Background

The Food Supply Chain Guarantee Loan program supports new investments in infrastructure for food aggregation, processing, manufacturing, storage, transportation, wholesaling, and distribution to increase capacity and create a more resilient, diverse and secure U.S. food supply chain. This program is authorized under Section 1001 of the American Rescue Plan Act.

For more information, visit http://www.rd.usda.gov.

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