Federal aid remains for farmers seeking COVID-19 relief
The Small Business Administration still accepting applications from farmers needing assistance during the Coronavirus pandemic.
One month ago, the S.B.A. made Economic Injury Disaster Loans – or “EIDL” – available to the agriculture industry for the first time. The administration’s website on Friday shows those loans are still available.
Farmers can seek up to $2 million dollars through the program, according to Rep. Glenn Thompson (R-Pa.).
“The impact on the food supply chain and on the markets have negatively impacted our farm families,” Thompson said.
Thompson is the top Republican on the House Agriculture Committee’s General Farm Commodities and Risk Management Subcommittee. The loans, he noted, will not have to be repaid if farmers meet certain criteria.
The reminder about the EIDL loans come the same week as the U.S. Department of Agriculture began issuing the first payments for the Coronavirus Food Assistance Program – a financial assistance initiative for farmers impacted by COVID-19. A total $545 million has been awarded through the USDA’s Farm Service Agency, according to a release this week.
“There have been some really good things in terms of the area of loans through the U.S. Dept. of Agriculture, as well; for the time being while we’re in the middle of this,” Thompson said.
To learn more about applying for EIDL loans, click here.