Loan program to assist meat processors

Montana West Economic Development has received a $15 million grant to start a revolving loan program for local meat and poultry processors.

The money comes from the U.S. Department of Agriculture’s Rural Development program and will be loaned to a number of meat processing businesses for use in processing and packaging operations, according to Christy Cummings Dawson, head of Montana West Economic Development.

“We're excited about the opportunities these funds bring to Northwest Montana, and as revolving funds, the long-lasting impact they'll have for our local food and ag sector,” Cummings Dawson wrote in an email. “There's a great need for meat and poultry processing capacity throughout the state and this will be a way to start addressing that need by supporting the growth of our processors.”

Cummings Dawson said that the money can be used for processors at any stage of the meat processing supply chain, by a variety of businesses in Flathead, Lincoln, Sanders and Lake counties. As the loans are paid back, the principal can be re-loaned to continue the fund’s impact.

The economic development authority is currently informing meat and poultry processors about the new revolving loan fund, and the terms of the grant dictate that all $15 million must be initially loaned out in the next three years, according to Cummings Dawson.

Reporter Adrian Knowler can be reached at 758-4407 or aknowler@dailyinterlake.com.