Tractor Beverage Company Welcomes Asif Khalid as COO
Tractor Beverage Company, exclusive creator of the world’s only certified organic, non-GMO foodservice beverages, has welcomed industry veteran Asif Khalid to its executive team as the company’s first chief operating officer.
Khalid brings a vast wealth of beverage category experience to the company and joins its ranks following a 14-year career at 7-Eleven, where he served as director of store innovation. In addition to this leading role at the convenience store giant, Khalid was also the senior category manager of non-alcoholic beverages, senior product development manager of private brands and regional market operations manager. More recently, he was the founder and CEO of Good Gracious Beverages, a foodservice company committed to revolutionizing restaurant & hospitality beverage offerings with sustainable craft drinks designed to increase margins via product and equipment innovations that reduce footprints and overhead.
“Asif is a transformational leader whose experience in the beverage industry promises to catapult Tractor to new heights,” said Kevin Sherman, Tractor Beverage Company’s CEO. “He’s joining an already successful team, and with the inception of the COO role, I’m confident we will go into 2023 the strongest we’ve ever been, with a high-velocity operating model that will empower our team to deliver an unmatched caliber of service to our pouring partners. I’m eager to see what we can accomplish together as the remainder of this year unfolds.”
Khalid’s work at Good Gracious to both develop brand, vision, and strategy for a new-to-market family of beverages and commercialize product and equipment innovations for alcoholic and nonalcoholic drinks alike makes him the ideal choice to boost Tractor’s efforts to disrupt the foodservice beverage industry.
“I am thrilled to join the Tractor leadership team and look forward to bringing my experience to this new role to help build on the brand’s success, innovating in the beverage space while creating more value for our customers, partners, and employees,” said Khalid.
As its new COO, a role created specifically to allow the company to leverage his diverse skills, Khalid will apply his knowledge and passion to the next phase of Tractor’s ongoing growth.
Founded with a mission to create better beverages for all, Tractor Beverage Company is the first and only certified organic, non-GMO full line beverage solution for foodservice. Tractor’s handcrafted drinks feature clean ingredients that deliver on taste, functionality, and an innovative consumer experience. Tractor’s vision is to use its beverage platform to expand organic farm practices—and, in turn, lead the way to a more sustainable and flourishing future for restaurants, consumers and farmers.
Tractor was named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies in 2021. For more information, please visit drinktractor.com or follow along on Instagram at @drinktractor.
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ReadyWise Kicks Off Partnership With Drew Brees-Signed Football Giveaway
| ReadyWise, a leading manufacturer of emergency food supplies, has signed an exclusive multi-year partnership deal with former professional quarterback Drew Brees. ReadyWise is giving its consumers first access to product launches, exclusive sales and giveaway opportunities to get over a million households prepared in 2023. Now from Feb 1-7, you can get prepared and win a signed football by Brees.
“I want to let everyone know I am teaming up with ReadyWise. To kick off the partnership, we will be giving away a signed football to one lucky winner,” Brees said. “Simply go to www.readywise.com and look for the football icon on various products to get prepared today!” You can enter the giveaway by purchasing an item on the website with the football icons. Each purchase gives you a chance to win. Look out for awesome discounted deals like the chance to stock up on eggs as the world faces continued price increases and shortages nationwide. No purchase is necessary to win. Please see the full terms and conditions. Gear up with ReadyWise for all things football as they prepare for the upcoming game on Feb. 12, starting with this giveaway to win a signed football from the legend Drew Brees. This comes as former coach Sean Payton accepts a new head coaching position in Denver, with people wondering whether Russel Wilson and Sean will be able to repeat a similar success story to that of him and Drew. Follow along as ReadyWise celebrates America’s favorite pastime with emergency preparedness deals to help Americans prepare with the survival basics. ReadyWise is a rapidly growing food brand offering ready-to-eat meal and snacking solutions serving the preparedness, outdoors and everyday categories. To learn more about ReadyWise, go to www.readywise.com. For more news of interest to the specialty food industry, subscribe to Gourmet News. |
USDA Posts Farm Service Agency Loan Interest Rates
The U.S. Department of Agriculture announced loan interest rates for February 2023, which are effective Feb. 1. USDA’s Farm Service Agency loans provide important access to capital to help agricultural producers start or expand their farming operation, purchase equipment and storage structures or meet cash flow needs.
Operating, Ownership and Emergency Loans
FSA offers farm ownership and operating loans with favorable interest rates and terms to help eligible agricultural producers, whether multi-generational, long-time, or new to the industry, obtain financing needed to start, expand or maintain a family agricultural operation. FSA also offers emergency loans to help producers recover from production and physical losses due to drought, flooding, other natural disasters or quarantine.
For many loan options, FSA sets aside funding for underserved producers, including veterans, beginning, women, American Indian or Alaskan Native, Asian, Black or African American, Native Hawaiian or Pacific Islander, and Hispanic farmers and ranchers
Interest rates for Operating and Ownership loans for February 2023 are as follows:
- Farm Operating Loans (Direct): 4.750 percent
- Farm Ownership Loans (Direct): 4.750 percent
- Farm Ownership Loans (Direct, Joint Financing): 2.750 percent
- Farm Ownership Loans (Down Payment): 1.500 percent
- Emergency Loan (Amount of Actual Loss): 3.750 percent
FSA also offers guaranteed loans through commercial lenders at rates set by those lenders.
To access an interactive online, step-by-step guide through the farm loan process, visit the Loan Assistance Tool on farmers.gov.
Commodity and Storage Facility Loans
Additionally, FSA provides low-interest financing to producers to build or upgrade on-farm storage facilities and purchase handling equipment and loans that provide interim financing to help producers meet cash flow needs without having to sell their commodities when market prices are low. Funds for these loans are provided through the Commodity Credit Corporation and are administered by FSA.
- Commodity Loans (less than one year disbursed): 5.750 percent
- Farm Storage Facility Loans:
- Three-year loan terms: 4.000 percent
- Five-year loan terms: 3.750 percent
- Seven-year loan terms: 3.750 percent
- Ten-year loan terms: 3.625 percent
- Twelve-year loan terms: 3.750 percent
- Sugar Storage Facility Loans (15 years): 3.875 percent
Pandemic and Disaster Support
FSA broadened the use of the Disaster Set Aside, normally used in the wake of natural disasters, to allow farmers with USDA farm loans who are affected by COVID-19, and are determined eligible, to have their next payment set aside. Because of the pandemic’s continued impacts, producers can apply for a second DSA for COVID-19 or a second DSA for a natural disaster for producers with an initial DSA for COVID-19.
The set-aside payment’s due date is moved to the final maturity date of the loan or extended up to 12 months in the case of an annual operating loan. Any principal set-aside will continue to accrue interest until it is repaid. Use of the expanded DSA program can help to improve a borrower’s cashflow in the current production cycle.
FSA also reminds rural communities, farmers and ranchers, families and small businesses affected by the year’s winter storms, drought, hurricanes and other natural disasters that USDA has programs that provide assistance. USDA staff in the regional, state and county offices are prepared to deliver a variety of program flexibilities and other assistance to agricultural producers and impacted communities. Many programs are available without an official disaster designation, including several risk management and disaster recovery options.
Inflation Reduction Act Assistance for Distressed Producers
On Aug. 16, 2022, President Biden signed the Inflation Reduction Act into law. It is a historic, once-in-a-generation investment and opportunity for the agricultural communities that USDA serves. Section 22006 of the IRA provided $3.1 billion for USDA to provide relief for distressed borrowers with certain FSA direct and guaranteed loans and to expedite assistance for those whose agricultural operations are at financial risk. USDA has allocated up to $1.3 billion for initial steps to help these distressed borrowers. This includes both automatic and case-by-case assistance. For more information producers can contact their local USDA Service Center or visit farmers.gov/inflation-reduction-investments/assistance.
Producers can explore available options on all FSA loan options at fsa.usda.gov or by contacting their local USDA Service Center.
