(NAFB) — Lawmakers reached an agreement Tuesday to allow agriculture to participate in the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program. The agreement is part of a larger deal, a $484 billion coronavirus package to extend the Paycheck Protection Program. The agreement also includes funds for small lenders and community banks, funds for national coronavirus testing and funding …
AFBF on CARES Act SBA Loans
The American Farm Bureau Federation (AFBF) says producers are ineligible for some CARES Act Small Business Association loans, but eligible for others. AFBF Congressional Relations Director, RJ Karney, says they believe farmers can’t participate in the Economic Injury Disaster Loan Program, but do qualify for paycheck assistance. “As of now, AFBF’s interpretation of the rule is, farmers are eligible to …
Agriculture Must Be Included in Disaster Loan Program
(AFBF) — Thirty-one agriculture organizations and businesses are calling on the U.S. Small Business Administration to include agricultural businesses in the Economic Injury Disaster Loan program, as intended by Congress in the CARES Act. The notice on the SBA website currently states applicants must certify they are “not an agricultural enterprise (e.g., farm), other than an aquaculture enterprise, agricultural cooperative …
SBA Deadline to Apply for Working Capital Loans in Florida is June 11
The U.S. Small Business Administration (SBA) is reminding businesses in Florida that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by Hurricane Irma from Sept. 4 through Oct. 18, 2017. “Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest …
Deadline Approaching in Southeast for SBA Working Loans
Alabama SBA Working Capital Loans The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations that April 16 is the filing deadline for federal economic injury disaster loans in Alabama as a result of the rainfall, wind, flooding, flash flooding and Tropical Storm Cindy from May 1 through …