US$11.1 million will be invested into the U.S. Department of Agriculture’s (USDA) Food Supply Chain Guaranteed Loan Program, which was created to support essential processing and supply chain infrastructure in the country.
The funds will be invested into Crystal Freeze Dry LLC, which manufactures freeze-dried egg products, and will create job opportunities in rural Iowa. The investment is part of the Biden-Harris Administration’s pledge to strengthen the country’s food supply chain.
Crystal Freeze Dry LLC, headquartered in Panora, Iowa, is a family-owned dried-egg product manufacturer. The company plans to use the money to expand its business, create jobs for seven people in the area, purchase equipment, reduce debt and strengthen its working capital.
The company currently supplies the U.S. military with shelf stable egg products, such as its microwavable Egg in a Cup product. It hopes to continue supplying its products to frontline troops and areas with unstable electrical grids to further secure the country’s food supply chain.
"The Biden-Harris Administration is investing in ways to create more, new and better market opportunities for farmers and increase access to healthy food options for people across the nation," USDA Secretary Tom Vilsack stated.
“Through the Food Supply Chain Guaranteed Loan Program, USDA has become a stronger partner to small and midsize farmers everywhere by backing private investments to expand processing capacity that will strengthen the food supply chain for the American people. The investment we’re announcing today is the first of many that will help to eliminate supply chain bottle necks and create more resilient, diverse and secure food supply infrastructure right here at home.”
The funds were sourced from a historic legislative package titled the American Rescue Plan Act, which is meant to help address food system challenges. The USDA plans to announce other recipients of the loan program’s funding over the coming months.
