The U.S. Senate approved $75M in emergency loans to Arkansas poultry producers as part of the American Workers, State and Business Relief Act, according to the Arkansas News Bureau.
The low-interest loans would be administered by the U.S. Department of Agriculture and be offered on two-year or longer terms, the news agency Stephens Media reported.
Sen. Blanche Lincoln, D-Ark., who heads the Senate Agriculture Committee, said the relief could boost a “hurting” state industry affected by the bankruptcy of Pilgrim’s Pride.“This is the first step to giving these growers every tool we can give them to help put them back to work,” Lincoln said in a press release. “This funding will allow growers … the opportunity to determine the most cost-effective, viable option for getting their businesses back up and running.” One former contract grower for Pilgrim's Pride said a loan would allow him to update his broiler facilities to meet the requirements of another processor so he could return to raising chickens.
