Rural Food Manufacturing Plant Finds Success with the Help of USDA
Intevation Food Group is a food manufacturing company focusing on the production of appetizers and potato products in Plover, Wisconsin. As a start-up company faced with a national recession, Intevation Food Group found it difficult to obtain bank financing to construct a new manufacturing plant, even with a significant amount of investor capital.
In 2012, Intevation Food Group partnered with CAP Services, a local community action agency serving north-central Wisconsin, to assist in obtaining financing for the construction under a lease-purchase agreement. CAP Services leveraged their long standing history and experience in assisting businesses to secure a $5.9 million USDA Rural Development Business & Industry Guaranteed Loan through United Farm Credit Services. This unique partnership enabled Intevation Food Group to lease a 100,000 square foot food processing plant and headquarters and create 48 new jobs.
Since then, Intevation Food Group has grown the business, increased production, and developed new product lines.
In September of 2014, Intevation Food Group was able secure a USDA Rural Development Business & Industry Guaranteed Loan, of their own, through Hometown Bank. Intevation Food Group used the $6.4 million loan to complete the lease purchase agreement with CAP Services, and to purchase new equipment and machinery to expand production.
Today, Intevation Food Group has 126 employees working at the state-the-art- manufacturing plant, with seasonal positions also available, the total workforce is more than 200.
||Obligation Amount||Loans $6,400,000 and $5,900,000||Date of Obligation||September 2014||Congressional District||Kind, 3||Senator's Last Names||Johnson / Baldwin|