# USDA Launches $5 Billion SPUR Loan Program

On October 23, 2026, USDA announced at least $5 billion in guaranteed financing through the SPUR program to expand, improve, and diversify U.S. meat, poultry, and seafood processing capacity. The program provides commercial lenders a 90% loan guarantee, with eligible borrowers able to access loans of up to $175 million. Lenders apply through USDA Rural Development; eligible borrowers include businesses, cooperatives, nonprofits, tribes, and state and local government organizations. No application deadline was stated.

- Lenders can apply through USDA Rural Development for guarantees supporting eligible processing-sector loans.
- Processors and other eligible organizations can evaluate financing for projects that expand, improve, or diversify meat, poultry, and seafood processing capacity.
- The scale of the program and the $175 million borrower ceiling may support substantial facility or capacity investments; applicants should confirm project eligibility and application details with USDA Rural Development.

**Jurisdictions:** federal
**Industries:** Construction & Infrastructure
**Topics:** Grants & Funding, Physical Infrastructure
**Published:** October 23, 2026

### Government Entities
- U.S. Department of Agriculture (USDA)
- USDA Rural Development
- USDA Office of Seafood

### Key Quotes
> 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.
> — Brooke L. Rollins, Secretary of Agriculture

### Sources
- [Trump Administration Announces $5 Billion SPUR Guaranteed Loan Program to Expand Processing for American Ranchers and Fishermen | USDA](https://www.usda.gov/about-usda/news/press-releases/2026/10/23/trump-administration-announces-5-billion-spur-guaranteed-loan-program-expand-processing-american) - USDA