Many in agriculture have been encouraged to apply through their agricultural lenders for the Small Business Administration’s new Paycheck Protection Program (PPP).
But as we have recently learned, due to the program being overwhelmed with applications, it has run out of its initial $350 billion. But efforts are underway to provide more money to the program. This could happen yet this week. The National Cotton Council (NCC) created a resource page on its website in response to the COVID-19 pandemic. It provides members with continuous updates and resources from multiple federal agencies. NCC Vice President of Washington Operations, Reece Langley, encourages their members to visit the site.
He notes some important regulatory relief has been provided for the agriculture and business communities.