Follow-Up: USDA Details SPUR Guaranteed Loan Program: At Least $5 Billion for Meat and Seafood Processing, 90% Guarantee, $175 Million Cap Per Borrower
The U.S. Department of Agriculture (USDA) on October 23 released details of the Strengthening Processing for U.S. Ranchers (SPUR) Guaranteed Loan Program: at least $5 billion in guaranteed loans to expand and modernize U.S. meat and seafood processing capacity. As GSM reported earlier the same day, the White House unveiled its "America First Seafood Strategy" that day, of which SPUR is a component.
Under the program, USDA will guarantee 90 percent of qualifying loans; the cap is $175 million per borrower; and principal and interest may be deferred for up to two years. Eligible lenders include federally or state-chartered banks, savings associations, Farm Credit banks with direct lending authority, and credit unions. Eligible borrowers include businesses, nonprofits, cooperatives, Indian tribes, and state and local government organizations. Applications are made through local USDA Rural Development offices under the OneRD Guarantee initiative.
USDA said SPUR carries out Executive Orders 14424 and 14276 and builds on last month's Rancher First Initiative; the department also established a Seafood Office earlier this year to connect the seafood industry with USDA programs and support.
In the department's statement, Secretary of Agriculture Brooke Rollins pointed to Alaska's crab workers, Maine's lobster fishermen and the Gulf Coast's shrimp workers, saying America's seafood workers deserve a government that fights for them.
Source: GSM·USA
Source: GSM · USA (original Chinese edition)
Photo: 美国牧场的肉牛饲养场（资料图）。 Photo via Wikimedia Commons (CC0)
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- 2026-10-23Follow-Up: USDA Details SPUR Guaranteed Loan Program: At Least $5 Billion for Meat and Seafood Processing, 90% Guarantee, $175 Million Cap Per BorrowerThis story
