Savings bank

Lincoln Savings Bank Now Accepting Applications for New USDA Food Supply Chain Guaranteed Loan Program

DES MOINES, Iowa – January 7, 2022 – (Newswire.com)

Lincoln Savings Bank (LSB) wants to help eligible borrowers expand meat and poultry processing capacity and finance other food supply chain infrastructure through the new Lincoln Savings Bank Guaranteed Loan Program. USDA Rural Development food supply chain.

The program will support new investments in infrastructure for food aggregation, processing, manufacturing, storage, transportation, wholesale and distribution to increase capacity and create a food supply chain more resilient, diverse and secure America.

“As a result of the pandemic, we are experiencing an American food supply chain that is disrupted and delayed,” said Theresa Greenfield, USDA state director of rural development in Iowa. “This program, with funding made available through the American Rescue Plan Act, aims to build a more equitable food system that supports the health and economic prospects of rural Iowans. I urge all eligible applicants to contact their lender or USDA Rural Development for more information.

As an Iowa-based community bank with $1.5 billion in assets, LSB is well positioned to help qualifying borrowers. Lincoln Savings Bank’s passion for building strong communities along with its expertise in rural and USDA lending programs has made it a leader in rural and government-guaranteed lending. In 2021, Lincoln Savings Bank was the top USDA Commercial Program secured lender in Iowa by highest dollar volume.

“This is a unique new federal program,” said Randy Frescoln, USDA commercial lender at LSB, who has been involved in USDA lending since the late 1970s. “Lincoln Savings Bank actively meets with potential food supply chain projects and encourages all eligible businesses located in urban and rural areas involved in food chain activities to contact us regarding the absence of USDA fees, a rate of more affordable fixed interest and financing for up to 40 years.”

To learn more about the USDA Food Supply Chain Guaranteed Loan Program, visit mylsb.com/supply-chain or call (515) 493-8118.

About Lincoln Savings Bank:

We may have been founded in 1902, but we’re anything but dated. Yes, we’re proud of our rich history, because a strong foundation only strengthens our focus on the future – helping businesses grow and customers protect what they’ve worked so hard to achieve. As fintech leaders and supporters of our communities, our commitment to improving banking services is real and personal. Visit MyLSB.com or find us on Facebook. FDIC member.

Press contacts:

Angela Evans, Lincoln Savings Bank, (319) 233-1900, AngelaE@mylsb.com

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Lincoln Savings Bank Now Accepting Applications for New USDA Food Supply Chain Guaranteed Loan Program


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