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COVID-19 Relief Funds Available to Farmers

By Writer Tom Hall
Monday, June 22, 2020 | 11:11 AM | 0 Comments

SBA has resumed processing EIDL applications that were submitted before the portal closed on April 15, and will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications from agricultural businesses only.

The new eligibility is made possible by the latest round of funds appropriated by Congress in response to the pandemic. Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).

SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application. SBA will continue processing applications from agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, without the need to reapply.

Eligible agricultural businesses may apply for the Loan Advance here