The Missouri Agricultural and Small Enterprise Growth Authority is accepting purposes for 2 applications aimed to assist rural small companies, particularly meat processors.
A “Meat Processing Facility Funding Tax Credit score Program” is accessible to qualifying meat processors that need to modernize or increase their amenities, in response to a information launch from MASBDA.
The tax credit score is price 25 p.c of the modernization or enlargement prices, with a most of $75,000 a 12 months.
“Our meat processors are important to our farmers, ranchers and small communities. It is vital that we have now amenities to course of Missouri’s agricultural items,” MASBDA Government Director Jill Wooden stated.
Agricultural companies in cities with populations of lower than 50,000 may additionally be eligible to obtain funds from the Missouri Agribusiness Revolving Mortgage Fund.
Qualifying agribusinesses might embrace value-added agriculture enterprises, agriculture assist companies, entrepreneurs or retailers of agricultural merchandise, and companies with rising agricultural know-how.
The mortgage funds can be utilized to start out, purchase, function or increase an agribusiness. As a result of COVID-19, a hard and fast rate of interest of four p.c is accessible.
A mortgage will finance 75 p.c of a mission’s value whether it is in a primary lien place with a most mortgage of $112,500. A mission in a second lien place could have 50 p.c of its value funded by a mortgage, with a most mortgage of $75,000.
Extra data and purposes can be found at MASBDA’s web site, agriculture.mo.gov/abd/financial/masbda. Extra data can be out there by contacting MASBDA by cellphone at 573-751-2129 or e mail at [email protected]
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