Conceived by Wisconsin Dairy Task Force 2.0 members, this new law launches a pilot program at the Wisconsin Housing and Economic Development Authority (WHEDA). Using existing funds available through the Agribusiness Guarantee Program, $3 million in loan guarantee authority will now be directed each year to rural development projects, including brick-and-mortar investments, equipment and machinery, marketing, and working capital.
The pilot will guarantee up to 25 percent of a loan, or $750,000, whichever is less. The borrower is required to pay back the entirety of the loan, with a state commitment only coming into play in the event of a default. All borrowers will be subject to rigorous vetting to participate in the program.
Since 1891, the Wisconsin Cheese Makers Association has served as the voice of cheese and dairy manufacturers, processors, and marketers. Today, WCMA represents more than 100 dairy processing companies and cooperatives operating across the United States and around the world, and more than 575 companies that supply equipment and services to the industry.