Maryland Value Added Producer Matching Grants Now Available From MARBIDCO

ANNAPOLIS (July 8, 2011)….The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) has announced a grant funding opportunity to encourage Maryland's independent agricultural producers to engage in value-added activities and pursue financial support from the U.S. Department of Agriculture’s Value Added Producer Grants Program (USDA-VAPG).  The USDA-VAPG is a highly competitive nationwide grants program with approximately $37 million available for distribution in 2011. These grant funds can be used for planning or working capital purposes in accordance with USDA regulations. Eligible purposes include feasibility studies or business plans, working capital for marketing value-added agricultural products and for farm-based renewable energy projects.          
MARBIDCO is making available Maryland Value Added Producer Matching Grants (MVAPMG) of up to 20% of the amount of a USDA-VAPG award to help an eligible applicant meet the non-federal financial matching requirement.  All applicants that meet the MARBIDCO requirements will receive a commitment letter of matching funds to be included with their federal USDA-VAPG application.  A MVAPMG monetary award from MARBIDCO will only be provided to an applicant that is selected to receive USDA-VAPG funding. The application submission deadline for the USDA-VAPG program is Monday, August 29, 2011. Questions regarding the USDA-VAPG can be addressed to the Maryland/Delaware Office of USDA-Rural Development at 302/857-3629, or visit USDA’s website for more information: http://www.rurdev.usda.gov/BCP_VAPG_Grants.html.            

Applicants seeking to receive a commitment of matching funds from MARBIDCO must submit an application at least two weeks prior to the federal submission deadline. The deadline for submission of MARBIDCO applications is Saturday, August 13, 2011 (postmarked), or by 4:00 p.m. on Monday, August 15, 2011(hand delivered). Please visit the MARBIDCO website for more information and to download the MVAPMG application form: http://www.MARBIDCO.org. Questions about the MVAPMG may also be addressed by contacting Kristen Robinson, MARBIDCO Financial Programs Officer, at 410/267-6807.

MARBIDCO is a quasi-public economic development organization chartered by the State of Maryland and headquartered in Annapolis.  Its mission is to help Maryland's (typically small and family-owned) farm, forestry, and seafood businesses to prosper through the provision of targeted financial and other services that helps to retain existing resource-based industry production and commerce, promotes rural entrepreneurship, and nurtures emerging or expanding agricultural enteprises. MARBIDCO offers assistance to qualifying rural businesses in securing affordable capital and credit for equipment, commercial facilities, and farm or real estate purchases (often by partnering with commercial lenders), and assists with rural working land preservation (by serving as a financial intermediary for state and local land conservation organizations). Helping young and beginning farmers is of special concern to MARBIDCO, as is helping farmers to diversify their business operations (such as through value added enterprises). Since 2007, MARBIDCO has made more than 125 rural business investments in projects located in 22 counties across the State. For more information about MARBIDCO programs, please visit the organization on the web at www.marbidco.org.

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