Federal News
USDA Guarantees Loan for Martinsville Sawmill Restart
March 23, 2026
The U.S. Department of Agriculture (USDA) has approved a $7.56 million loan guarantee to Twain Capital to acquire and restart the Pine Products Sawmill located in Martinsville, Virginia. This action supports the expansion of timber production in the region under the Timber Production Expansion Guaranteed Loan Program. Congressman Morgan Griffith emphasized the significance of this loan guarantee in revitalizing a key industry within Virginia's Ninth District, highlighting federal support for regional economic development through targeted financing.
- The loan guarantee facilitates private sector investment in timber production infrastructure, signaling opportunities for contractors and suppliers involved in sawmill operations and timber processing.
- Procurement professionals should note the USDA's continued use of loan guarantees to stimulate rural industrial projects, which may open avenues for related equipment, services, and construction contracts.
- Businesses interested in timber and forestry sectors in Virginia and similar regions can leverage this development to explore partnership or subcontracting opportunities with Twain Capital or associated entities.
- The involvement of federal loan guarantees underscores the importance of aligning proposals with USDA program requirements and regional economic development goals.
This USDA loan guarantee for more than $7.5 million helps Twain Capital revive an essential industry in Virginiaโs Ninth District.
— Morgan Griffith, U.S. Congressman
Agencies
U.S. Department of Agriculture
Vendors
Twain Capital
Contracts
$7,568,000