The Missouri Agricultural and Small Business Development Authority has opened two funding opportunities and announced the most recent grant cycle recipients.
The Missouri Agricultural and Small Business Development Authority is accepting applications for two programs that add value to Missouri agricultural products and aid the economy of a rural community.
The Missouri Value-Added Agriculture Grant can be used for business planning purposes such as feasibility studies, marketing plans, business plans, and legal assistance. Funds cannot be used for capital expenditures, salaries or operating funds.
The Missouri Value-Added Agriculture “Farm to Table” Grant Program provides funding to Missouri small businesses and agricultural producers to purchase resources used to process locally grown agricultural products for use in schools and institutions within the state. “Institutions” may include, but are not limited to, schools, correctional facilities, hospitals, nursing homes, long-term care facilities and military bases.
Applications for both programs are awarded on a competitive basis and will be scored based on the economic development potential for the agriculture industry; credibility and merit; probability of near-term commercialization and practical application of project results; presence, source and level of matching funds; and where the project will have an economic impact.
The maximum individual grant available is $200,000. Applicants are required to provide a minimum cash match of 10 percent toward eligible expenses. Both programs are funded by contributions made to the Missouri Agricultural and Small Business Development Authority through the purchase of tax credits.
Applications must be received by the Missouri Agricultural and Small Business Development Authority no later than 5 p.m. on Friday, April 1 to be considered for the July 2022 funding cycle. For full details of both programs and application materials, visit Agriculture.Mo.Gov.
Missouri Agricultural and Small Business Development Authority recently awarded a total of nearly $537,000 to five recipients of the Value-Added Agriculture Grant and two Value-Added Farm to Table Grant projects:
For more information on financial assistance offered by the Missouri Agricultural and Small Business Development Authority, please visit MASBDA.com.