The Trump Administration along with Florida/U.S. Virgin Islands State Director Phil Leary has announced that the United States Department of Agriculture (USDA) is providing a $500,000 loan guarantee to a Florida peanut and peanut butter manufacturer. USDA is providing the funding through Rural Development’s Business and Industry Loan Guarantee program.
"Rural businesses have to make investments in order to grow, increase profits, and keep up with technology," said Phil Leary, State Director for Florida and the U.S. Virgin Islands. "Under the leadership of President Trump and Agriculture Secretary Perdue, USDA is proud to play a part in increasing opportunities for Florida businesses and those that they employ, because we know that when rural America thrives, all of America thrives."
This Rural Development investment will be used to provide a loan guarantee to purchase new equipment in order to enhance the capacity and speed of peanut butter processing. Sunshine Peanut Company is a peanut and peanut butter manufacturing company servicing the local area and the prisons in Jacksonville, Fla. This project will save 47 jobs for the community.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit www.rd.usda.gov.
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