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News Release

Release No. 0013.10
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USDA Office of Communications (202) 720-4623

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Agriculture Secretary Vilsack Announces $449 Million in Loan Assistance to Help Rural Businesses

Guaranteed Loans Provided Through Recovery Act Funds Help Local Businesses and Supports 'Know Your Farmer, Know Your Food' Initiative

WASHINGTON, Jan. 13, 2010 - Agriculture Secretary Tom Vilsack today announced $449 million in loan guarantees to assist 128 rural businesses through funding made available by the American Recovery and Reinvestment Act. The funding is being made available through USDA Rural Development's Business and Industry Guaranteed Loan Program. Altogether, $1.7 billion is available to businesses across the country through Recovery Act Business and Industry Guaranteed Loan Program funding.

"A number of the Recovery Act funds announced today are supporting USDA's 'Know Your Farmer Know, Your Food Initiative' by providing capital to rural business that support and market locally produced foods in communities throughout the country," said Vilsack. "We can revitalize rural communities and spur economic opportunity by building infrastructure to strengthen local food systems and creating a stronger link between local food production and local consumption."

For example, Prairieland Foods, LLC, in Hallam, Neb., was selected to receive a $650,000 loan to enable the locally owned and operated dairy processing facility to meet the growing demand for a local, source-verified, sustainable supply of dairy foods and ingredients. The facility will also help diversify the market exposure for milk produced at local dairies, including partner company Prairieland Dairy, LLC. The loan will be used to purchase adjacent property for future expansion to include producing cheese, yogurt, ice cream, and other dairy foods and ingredients.

In Holly Springs, N.C., My Way Tavern, a local family-owned restaurant, has been selected to receive a $204,000 loan to help with start-up costs of their neighborhood restaurant. The restaurant plans to purchase at least 10 percent of its produce from local farmers.

USDA's 'Know Your Farmer, Know Your Food' initiative was launched in September. It emphasizes the need for a fundamental and critical reconnection between producers and consumers and includes such major agricultural topics as supporting local farmers and community food groups; strengthening rural communities; enhancing direct marketing and farmers' promotion programs; promoting healthy eating; protecting natural resources; and helping schools connect with locally grown foods. The initiative builds on the 2008 Farm Bill, which provides for increases and flexibility for USDA programs in an effort to promote local foods.

The funding announced today is being made available through USDA Rural Development's Business and Industry Guaranteed Loan Program. Eligible applicants include private businesses, cooperative organizations, corporations, partnerships, non-profit groups, federally recognized Indian tribes, public bodies and individuals. The funds will be targeted to creating and retaining quality jobs and serving difficult-to-reach populations and areas hardest hit by the current economic downturn.

More information about USDA's Recovery Act efforts is available at www.usda.gov/recovery. More information about the Federal government's efforts on the Recovery Act is available at www.recovery.gov.

Below is a list of borrowers receiving loan awards. Funding is contingent upon borrowers meeting conditions in the loan agreement.

Alabama

* Fairhope Nursing, LLC; Community Bank & Trust; $4,808,700

* D&E Mining, LLC; The Union Bank; $2,442,000

Alaska

* Adak Seafood, LLC; Independence Bank; $5,850,000

Arizona

* P.I.C. Investments, Inc.; Home Loan Investment Bank, FSB; $1,630,000

California

* Stratford Growers, Inc.; Borrego Springs Bank; $3,310,000

* Brian K. Koch and Sally C. Koch Revocable Living Trust, Sally C. Koch Trustee; Coast National Bank; $1,440,000

* Individual; Borrego Springs Bank; $1,778,971

* Individual; Butte Community Bank; $421,000

* Chandi Investments, Inc.; Butte Community Bank; $1,320,000

Colorado

* MJ Investments, LLC; First Southwest Bank; $796,000

* Individual dba Dance in the Rockies; Alpine Bank; $632,000

Florida

* IMG Holding, LLC; Horizon Bank; $5,000,000

Georgia

* Phoenix Petroleum, LLC; Bank Of Terrell; $2,650,000

* J&B Rentals and John and Billie Pascoe; Community Bank Of Pickens County; $2,465,000

* Parkside Main, LLC and Lake Oconee, LLC; One Georgia Bank; $7,383,000

* Stafford 75, LLC; Tifton Banking Company; $1,350,000

* Mid Crawford, LLC; Ridgestone Bank; $2,480,000

Idaho

* Standlee Hay Company, Inc.; Zions First National Bank; $1,887,000

* SRM Arms, Inc./Snake River Machine, Inc.; Mountain West Bank; $500,000

* Centennial Grain LLC and Campbell Properties LLC; Citizens Community Bank; $870,000

* Lohman Helicopter, LLC; Morgan Lohman; David Wayman; Zions First National Bank; $575,000

Illinois

* McLeod Farms, Inc.; Peoples Bank & Trust; $6,100,000

* Prairieland Investment Group, LLC; Marine Bank & Trust; $2,160,000

* RMH Acquisition, LLC; Morton Community Bank; $6,650,000

* PMW Holdings, LLC; Centrue Bank; $3,800,032

Indiana

* Morris Manufacturing and Sales Corporation; Bank Of Indiana; $1,500,000

* Harcourt Industries, Inc.; Bank Of Indiana N.A.; $1,780,000

* Southern Indiana Biofuels, LLC; Integra Bank; $1,195,000

* Great Lakes Producers, LLC dba Vin-Lee-Ron Meat Packing, LLC; First Farmers Bank & Trust; $2,150,000

Iowa

* Individual; Farmers State Bank; $248,000

* Midwest Properties of Ida Grove, LLC; United Bank Of Iowa; $2,332,296

* Dave's Place; LLC; Cedar Rapids Bank & Trust Co.; $2,300,000

* Lexington Square, LLC & Lexington Square Real Estate, LLC; Cedar Rapids Bank & Trust Co.; $4,300,000

* Kerber Milling Company; Bank Midwest; $4,100,000

* Enseva - Grundy Center, LLC; Grundy National Bank; $7,122,377

* Barker Implement; First National Bank; $460,000

Kansas

* Big Sugar Lumber & Home Center, Inc.; Union State Bank-Uniontown; $450,000

* Kennel-Aire, LLC; Ridgestone Bank; $1,160,000

* Kennel-Aire, LLC ; Ridgestone Bank; $2,140,000

* Manhattan PE CO, LLC; ESB Financial; $2,538,400

Kentucky

* Central Center Plaza, LLC; Hancock Bank & Trust; $9,950,000

* Major Elkhorn Mining Co.,LLC; Community Trust Bank, Inc; $1,900,000

* Murray Senior Living, LLC; TN Commerce Bank; $3,600,000

Louisiana

* Raley Brothers, LLC;Bank Of Montgomery; $7,000,000

* Crowville Grain and Elevator Co., Inc.;Bank Of Montgomery; $7,000,000

* Suard Barge Service, Inc.; Mc Bank & Trust Company; $3,950,000

* CleanTech Solutions Worldwide, LLC; The Union Bank; $5,200,000

* Bayou Country Associates, LLC; Bizcapital Bidco Ii, LLC; $3,000,000

* Acadiana Cinemas, L.L.C.; Bank Of Montgomery; $2,025,000

Maine

* Running Hill Self Storage, LLC; Northeast Bank; $2,200,000

* Ocean Classroom Foundation, Inc.; Camden National Bank; $2,200,000

Massachussetts

* MBO Precast, Inc. & JBO Realty LLC; Rockland Trust Co; $2,987,250

* Individual; Clinton Savings Bank; $600,000

* Radant Technologies, Inc.; Middlesex Savings Bank; $2,000,000

Michigan

* Precision Hardwood Resources; Chelsea State Bank; $5,452,265

* Stellar Enterprises, LLC; First National Bank&Trust Iron Mountain; $3,039,200

* Wolverine Metal Stamping; Omni Community Credit Union; $2,500,000

* CTD Real Estate Co. and Custom Tool & Die Co.; Chemical Bank; $900,000

* Elm Plating; Ann Arbor State Bank; $2,500,000

* Kent Power; Choice One Bank; $2,000,000

Minnesota

* Lindar Corporation; Riverwood Bank; $1,150,000

* Coin-Tainer Company, LLC; First National Bank Of Milaca; $4,000,000

* Individual; Midcountry Bank; $900,000

* Genesis Poly Recycling, Inc.; Us Bank, N.A.;$7,440,000

* Composite Products, Inc; Altra Federal Credit Union; $2,700,000

Mississippi

* Hood Equipment Company, Inc.; State Bank & Trust Co; $350,000

* KGC Properties, Inc & Coleman & Coleman Enterprise, Inc.; Bank Of Holly Springs; $600,000

Missouri

* Harleman Global Utility Products, LLC; Mid-Missouri Bank; $558,000

* The Tool Store & More; The Seymour Bank; $510,000

Nebraska

* PrairieLand Foods First State Bank; $650,000

* Preferred Rocks of Genoa, LLC; Siemens Financial Services, Inc.; $22,000,000

New Hampshire

* Middleton Building Supply; Citizens Bank; $6,000,000

Nevada

* Fahnestock Properties, LLC & Fahnestock Enterprises, Inc. dba Western Turf and Hardscape; Heritage Bank Of Nevada; $1,700,000

New York

* Contract Packaging Services, Inc.; The Park Avenue Bank; $1,500,000

* Infotonics Technology Center, Inc.; Genesee Regional Bank; $4,000,000

* Jagdamba III Corp. dba Golden Corral; First Chatham Bank; $2,850,000

* Mountain Lake Camp Resort, Inc.; Catskill Hudson Bank; $170,000

* Bestway Enterprises, Inc & Sub Regal Bank & Trust; $8,350,000

* Chenango Valley Pet Foods, Inc.; M & T Bank; $700,000

North Carolina

* My Way Tavern, LLC.; Four Oaks Bank & Trust; $204,000

* Gibson Management, LLC; Four Oaks Bank & Trust Loan Operations; $576,000

* Troy Lumber Company; The Fidelity Bank; $5,000,000

* Individual; The Little Bank; $750,000

* Schwartz Family Properties NC, LLC; Fifth Third Bank; $2,325,000

* United Canvas & Sling, Inc.; Fifth Third Bank; $1,150,000

* Pluris, LLC; American Security Bank; $8,000,000

* Nice Blends Corp.;Branch Banking & Trust; $900,000

* International Precast, Inc.; Keysource Bank; $1,668,020

Ohio

* CSR Rentals, LLC, Tiffin Deluxe Services, Inc. & Christopher & Susan Raneiri; Sutton Bank; $400,000

* Guardian Manufacturing Acquisition, LLC; PNC Bank; $2,900,000

* Seneca Medical, Inc.; Fifth Third Bank; $5,200,000

Oklahoma

* Longhorn Service Company, Etal; Spiritbank, NA; $5,000,000

Oregon

* EagleRidge Community Development, LLC; South Valley Bank & Trust; $2,100,000

Pennsylvania

* Bethel Grain; First National Bank Of Pennsylvania; $1,240,000

* Shaw Industries, Inc.; First National Bank Of Pennsylvania; $1,800,000

* Pen Oaks LLC; Susquehanna Bank; $10,000,000

* Edge Pensylvania LLC and Blackacre Properties LLC; Ridgestone Bank; $4,000,000

* General Trade; Huntington National Bank; $10,000,000

* HH Fessler Knitting Co., Inc. & Meck Realty Partners II, LLC; Sovereign Bank; $3,400,000

South Carolina

* Cody Brothers Feed Milling; Appalachian Development Corporation; $1,200,000

* Howze Mortuary, Inc.; Bank Of Travelers Rest; $1,898,250

Tennessee

* McKenzie Medical Center, Inc. & WMC Medical Clinic Partnership; TN Business & Industrial Development Corp; $6,100,000

* Vanderbilt Landscaping, LLC; First Tennessee Bank; $900,000

* Sherwood Mining Company, LLC; First Vision Bank; $5,000,000

* Smith Farmers Cooperative; Citizens Bank; $1,350,000

* West Reel, LLC; Ridgestone Bank; $3,800,000

* Replogle Enterprises & Replogle Hardwood Flooring Company, LLC; TN Business & Industrial Development Corp; $4,800,000

* Glenbrook West General Partnership; Hancock Bank & Trust; $6,500,000

* Lewis County Long Term Facility; Community South Bank; $3,613,300

* McNairy County Long Term Facility, Inc.; Community South Bank; $3,220,200

* Dyersburg Manor, Inc.; Community South Bank; $3,644,200

Texas

* Sam Kane Beef Proceesors, Inc.; Heritage Land Bank, FLCA; $25,000,000

Virginia

* Barnette Energy, LLC; Powell Valley National Bank; $240,000

* Royal Oak Farm, LLC; Farm Credit Of The Virginias, ACA; $987,000

* Mister Leo Holdings, LLC; Community South Bank; $1,430,000

Vermont

* Rhino Foods Inc; People's United Bank; $1,243,190

West Virginia

* Anami Hotels, LLC; First Chatham Bank; $3,284,000

Western Pacific

* Individual; Community First Guam FCU; $1,012,500

Wisconsin

* Acoustic Ceiling Products, LLC & Precision Plastics, LLC; Community Bank and Trust-Sheboygan; $5,000,000

* Precision Plastics, LLC & Acoustic Ceiling Products, LLC; Community Bank and Trust-Sheboygan; $3,000,000

* Riverdale Ag Services, Inc. and Cinco J, LLC; American Trust & Savings Bank; $550,000

* Cinco J, LLC and Riverdale Ag Services, LLC; American Trust & Savings Bank; $179,000

* Integrity Grading and Excavating, Inc.; Mid-Wisconsin Bank-Medford; $1,900,000

* Serigraph, Inc.; Ridgestone Bank; $8,500,000

* ST Paper, LLC; Nicolet National Bank; $25,000,000

* Olsen's Crop Service, LLC; West Pointe Bank; $10,000,000

* Olsen's Mills Acquisition Co., LLC; West Pointe Bank; $10,000,000

Wyoming

* Health & Marketing West/Douglas Care Center; Converse County Bank; $5,000,000

USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in homeownership, finances business development, and supports the creation of critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA Rural Development's web site at http://www.rurdev.usda.gov.

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