# Plain Language Summary: Food Supply Chain Capacity and Resiliency Act

This bill creates a loan guarantee program to help businesses invest in America's food system. Essentially, the government would back loans of up to $80 million each to companies that want to start or expand operations related to getting food from farms to tables. This includes businesses involved in processing, packaging, storing, transporting, or selling food. The idea is that by guaranteeing these loans, the government makes it easier and cheaper for companies to borrow money for these projects, since lenders face less risk when the government promises to cover losses if the borrower can't repay.

The bill sets aside up to $29 million per year for five years (2024-2028) to run this program, with about $4 million of that going toward administrative costs. When there isn't enough money to fund all the loan requests, the government would prioritize projects that create jobs in struggling communities or projects that help make America's food supply more reliable and diverse. This could mean favoring loans to businesses in rural areas with high unemployment or to companies that reduce dependence on a single region or type of food producer.

The practical effect is that smaller food companies, regional processors, and distribution businesses might find it easier to get financing for expansion or new ventures. A regional meat processor wanting to build a new facility, a local food distributor expanding their warehouse, or a startup creating a new food manufacturing operation could potentially access these guaranteed loans more easily than through traditional bank lending. The bill also includes a safeguard ensuring these new loans supplement rather than replace other government funding that already exists for agriculture and food businesses.

Food Supply Chain Capacity and Resiliency Act

Food Supply Chain Capacity and Resiliency ActThis bill allows the Department of Agriculture (USDA) to expand the Food Supply Chain Guaranteed Loan Program. The program may guarantee loans to support new investments in the start-up or expansion of projects in the United States that will increase U.S. food supply chain capacity to aggregate, process, manufacture, store, transport, wholesale, or distribute food.In awarding loan guarantees under this bill, USDA must give preference to loans for projects that create jobs in economically distressed communities or to help create a more resilient, diverse, and secure U.S. food supply chain.USDA must prescribe such regulations as may be necessary to carry out this program.The bill specifies that USDA must use the amounts made available to carry out this bill to supplement, and not supplant, funds provided under other federal, state, or local law.&nbsp;