Grant announced to help build Maine’s food system financing capacity

Maine (WABI) – The USDA Rural Development Maine director has announced a grant to help build Maine’s food system financing capacity.

The $2.8 million grant comes from the USDA Food Financing Initiative Program.

Coastal Enterprises and and the Maine Department of Agriculture, Conservation and Forestry are partnering on the project.

From now until early 2025, Coastal Enterprises will use funding to structure the new food system investment fund which includes hiring staff, establishing policies, and assembling an advisory council.

Once established, the fund will provide loans, credit enhancements, and specialized technical assistance to processing businesses.

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