A Possible PPP Extension
President Joe Biden is expected to sign legislation to extend the deadline for enrollment in the Paycheck Protection Program (PPP) from March 31 to May 31. At this point, only four percent of PPP loan funding has gone to the agriculture industry. Farmers and ranchers can use PPP funds for such things as payroll, land […]
Paycheck Protection Program Funds Replenished via CARES Act 3.5
President Donald Trump signed a $484 billion coronavirus aid package. The legislation replenishes $310 billion for the Small Business Administration’s Paycheck Protection Program. The package also allows farmers to be eligible for Economic Injury Disaster Loans and the Emergency Economic Assistance Grant program. Get more information here.
SBA Unable to Process Further PPP Applications
The Small Business Administration is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. To […]
SBA Paycheck Protection Program Information
As part of the CARES Act signed by President Trump on March 27, the Small Business Administration is directed to administer a new Paycheck Protection Program loan to facilitate the delivery of $349 billion. There has been a lot of attention to the PPP program because it includes terms to forgive the loan if […]
