There has been concern raised over a statement from the Small Business Administration (SBA) saying that agriculture need not apply for some of their loans. This led to many questioning where farmers stood during this tough time. It seems there is some more clarity as to what help is available for farmers, and what they do not qualify for.
There are a few programs available to farmers and ranchers during this pandemic. These programs are being developed and administered by both the United States Department of Agriculture (USDA) and the SBA. American Farm Bureau Federation Economist Veronica Nigh tells us about these programs.
What farmers are not eligible for is the SBA Emergency Disaster Loan Program. They can still get help from the SBA through the Paycheck Protection Program.
The Paycheck Protection Program has $349 billion available on a first-come, first-serve basis. There are resources available to farmers online to help them navigate the process.
You can find that help on SBA.gov.
