Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in under-served and rural communities, completed $36.7 million in financing for Pure Prairie Poultry in Charles City, IA.
The loan package, guaranteed by the U.S. Department of Agriculture (USDA) through the Food Supply Chain Guaranteed Loan Program, will help Pure Prairie Poultry renovate and expand its existing poultry processing plant and purchase additional equipment to ramp up operations to full capacity.
With the government-guaranteed financing, Pure Prairie Poultry will be able to strengthen supply chain resiliency, advance production and restore a market for regional farmers while increasing regional jobs.
“USDA-guaranteed loans are a vital tool in building stronger rural communities and enhancing critical supply chains,” Jeremy Gilpin, executive vice president of GCL, said. “GCL remains dedicated to facilitating access to affordable financing for organizations in rural areas. These loans help bolster local economies and create jobs, while also improving access to essential goods and services for consumers across the country.”
