USDA Makes $5 Billion Available for Meat, Seafood Processing

The U.S. Department of Agriculture (USDA) is making at least $5 billion available through its Strengthening Processing for U.S. Ranchers (SPUR) Guaranteed Loan Program to expand, improve, and diversify meat, poultry, and seafood processing capacity.

Announced October 23, 2026, the program provides loan guarantees to commercial lenders financing eligible businesses and organizations. The initiative is intended to support small, independent, and regional processors, including facilities handling seafood.

Agriculture Secretary Brooke L. Rollins said the expansion of funding opportunities for seafood processing is part of the administration’s efforts to support domestic seafood production and processing.

“From our crabbers in Alaska, to the lobstermen in Maine, to the great shrimpers in the Gulf of America, our nation is blessed with incredible men and women who work to bring this bounty to our plates. The Trump Administration has recognized their incredible efforts and is working to provide all the necessary tools for them to succeed with our America First Seafood Strategy,” said  Rollins. “Today’s announcement expanding funding opportunities for seafood processing from USDA highlights our commitment to building out the resources needed for American seafood products to be readily available for consumers. We look forward to continuing to serve American fishermen through the USDA Office of Seafood we created earlier this year, building on President Trump’s America First vision.”

SPUR Loan Program: What to Know

The program is designed to help eligible borrowers expand processing operations, improve facilities, and diversify the types of animal proteins they process.

Key program details include:

• Total funding: At least $5 billion in loans
• Loan guarantee: USDA will guarantee 90% of eligible loans made by commercial lenders
• Maximum loan amount: $175 million per borrower
• Payment deferral: Loans may allow a two-year deferral of principal and interest payments
• Eligible processing sectors: Meat, poultry, and seafood

Who Can Apply?

Eligible lenders include:

• Federal- and state-chartered banks
• Savings and loan associations
• Farm credit banks with direct lending authority
• Credit unions

Businesses and organizations that may apply to eligible lenders for a guaranteed loan include businesses, nonprofits, cooperatives, Indian tribes, and state and local government organizations.

Lenders can find application instructions through the USDA Rural Development OneRD Guarantee program. Prospective borrowers can contact their local USDA Rural Development office for more information.

Program Background & Policy Goals

The SPUR Guaranteed Loan Program follows two executive orders addressing domestic meat and seafood industries.

Earlier in 2026, President Donald Trump signed Executive Order 14424, Promoting Fair Competition in Livestock Markets and Expanding Market Access for American Meat Producers. It directed USDA to establish the program to help small and regional beef processors continue operations, expand, and increase the diversity of animal proteins processed.

Executive Order 14276, Restoring American Seafood Competitiveness, directed the Secretary of Commerce, in consultation with the Secretary of Agriculture, to develop and implement the America First Seafood Strategy. The strategy aims to promote American seafood production, marketing, sales, and exports, while strengthening domestic processing capacity.

The addition of seafood processing to SPUR also follows the creation of the USDA Office of Seafood earlier in 2026. The program is part of USDA’s broader efforts to support small, independent, and regional meat and poultry processing facilities and advance its Rancher First Initiative, announced in September 2026.