$36.7 million in financing completed for Pure Prairie Poultry expansion

To The Press

A $36.7 million federally guaranteed loan package has been completed for Pure Prairie Poultry in Charles City.

Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in under-served and rural communities, completed financing to help Pure Prairie renovate and expand its poultry processing plant and purchase additional equipment to ramp up operations to full capacity.

The financing had been announced in November last year as part of several grants and loans earmarked for a $52 million improvement project for Pure Prairie Poultry. The loan package was announced as completed this week. The loan is guaranteed by the U.S. Department of Agriculture through the Food Supply Chain Guaranteed Loan Program.

“With the government-guaranteed financing, Pure Prairie Poultry will be able to strengthen supply chain resiliency, advance production and restore a market for regional farmers while increasing regional jobs,” GCL said.

“USDA-guaranteed loans are a vital tool in building stronger rural communities and enhancing critical supply chains,” said Jeremy Gilpin, executive vice president of GCL, one of the largest providers of USDA loans.

“GCL remains dedicated to facilitating access to affordable financing for organizations in rural areas. These loans help bolster local economies and create jobs, while also improving access to essential goods and services for consumers across the country,” Gilpin said.

At full capacity, Pure Prairie Poultry will have a network of more than 75 barns located within a 250-mile radius of the plant in order to provide locally-sourced birds for distribution in the region. The plant is expected to bring more than 520 jobs to the surrounding communities.

Pure Prairie Poultry delivers premium quality chicken products raised in cooperation with family farmer partners in Iowa, Minnesota and Wisconsin, using strict animal welfare standards. Chickens are fed a vegetarian diet with no animal byproducts, and without the use of antibiotics. Products are air-chilled, highly trimmed and contain no added ingredients, the company said.