The Missouri Agricultural and Small Business Development Authority (MASBDA) announces the opening of two funding opportunities, while announcing the recipients of the most recent grant round. MASBDA is accepting applications for two programs that add value to Missouri agricultural products and help the economy of a rural community.
The Missouri Value Added Farm Grant can be used for business planning purposes such as feasibility studies, marketing plans, business plans, and legal assistance. Funds cannot be used for capital expenditures, salaries or operating funds.
Missouri Value-Added Agriculture “From farm to table” The grant program provides funding to small businesses and agricultural producers in Missouri to purchase resources used to process locally grown agricultural products for use in schools and institutions across the state. “Facilities” may include, but are not limited to, schools, correctional facilities, hospitals, nursing homes, long-term care facilities, and military bases.
Applications for both programs are awarded on a competitive basis and will be scored based on the economic development potential of the agricultural industry; credibility and merit; short-term commercialization likelihood and practical application of project results; presence, source and level of counterpart funds; and where the project will have an economic impact.
The maximum individual grant available is $200,000. Applicants are required to provide a minimum cash match of 10% of eligible expenses. Both programs are funded by contributions made to MASBDA through the purchase of tax credits.
Applications must be received by MASBDA no later than 5:00 p.m. on Friday, April 1, 2022, to be considered for the July 2022 funding round. For program details and application materials, visit the website of the Missouri Department of Agriculture.
MASBDA recently awarded a total of nearly $537,000 to five agriculture value-added grant recipients and two farm-to-table value-added grant projects:
- Mid-South Soybean Processors, Jefferson City, ($80,000) – to update a business plan for a soybean processing facility, as well as legal work for the completion of an offering document/prospectus.
- Doolittle Wood Products LLC, Rolla, ($83,149) – to finance a feasibility study, comprising a technical feasibility study, a marketing plan and a business plan for a plant producing wood pellets for biofuels.
- All Elderberry, Berger, ($53,955) – to fund a feasibility study, marketing plan and business plan for expanded uses of elderberry products.
- Hemme Dairy LLC, Sweet Springs, ($128,914.50) – to fund pre-construction planning and operational consultation for the development of a retail store and café.
- Ozark Mountain Creamery LLC, Mountain Grove, ($66,770) – to finance a feasibility study, a marketing plan and a business plan for two new value-added products.
- From farm to table JR Meat Company, Unionville, ($115,379) – to fund the purchase of packaging equipment for a meat processing plant to facilitate institutional sales.
- From farm to table M&W Nursery and Mad Pickler Farm, Deepwater, ($85,418.76) – to fund a building, equipment and professional services to help transform products for school and institutional sales.
For more information on financial assistance offered by the Missouri Agricultural and Small Business Development Authority, please visit the Missouri Agricultural and Small Business Development Authority website.