New COVID-19 Financial Support Available to Farmers
Recorded April 27, 2020
New funding is now available to farmers through the COVID-19 relief package (CARES Act) passed by Congress.
We’ll review these funding opportunities during this webinar. You’ll also learn how you can advocate for important federal funding that will directly assist farmers.
New funds for Payroll Protection Program Loans. The Paycheck Protection Program (PPP) provides forgivable loans to small businesses to help cover up to eight weeks of payroll costs, interest on mortgages, rent, and utilities. Its initial funding pool was quickly drained, however additional funding is now available. Farms and small businesses can apply starting Monday, April 27, at 10:30 a.m. We anticipate a short window of opportunity to apply. We’ll discuss specific circumstances common among farmers and small businesses, like sole proprietors, and their eligibility. Click here to see our previous webinar on applying for a PPP loan. We’ve also developed a PPP loan calculation sheet you can use.
Economic Injury Disaster Loans now available to farmers. Initially, farmers were excluded from receiving Economic Injury Disaster Loans (EIDL). However, beginning Monday, April 27, farmers will be eligible to apply to receive these funds of up to $10,000. Apply directly through the Small Business Administration (SBA).
Advocating for farmers at the national level. Help advocate for important federal funding that will directly assist farms.
Hannah Smith-Brubaker, Pasa Executive Director
Christina Kostelecky, Pasa
Bill Kitsch, Ephrata National Bank
Alyssa Charney, US Senator Bob Casey
Sarah Hackney, National Sustainable Agriculture Coalition (NSAC)