Griffith Announces $7.56 Million USDA Loan Guarantee for Martinsville Sawmill Project

The U.S. Department of Agriculture (USDA) has approved a loan guarantee of $7,568,000 to Twain Capital. While based in Mississippi, Twain Capital will focus on acquiring and restarting the idle Pine Products Sawmill in Martinsville, Virginia. The funding will support the facility in resuming its operations. U.S. Congressman Morgan Griffith (R-VA) issued the following statement:

"The USDA is relying on communities like those in Virginia's Ninth District to support expanded timber production in the United States.

"This USDA loan guarantee for more than $7.5 million helps Twain Capital revive an essential industry in Virginia's Ninth District."

BACKGROUND

According to the USDA, this loan guarantee was made possible by the Timber Production Expansion Guaranteed Loan Program.

This program reflects the Trump Administration's ongoing efforts to support the American timber industry.

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