Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
    
   
   
   
   
   

Agricultural News


SBA to Make Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic

Mon, 04 May 2020 14:18:53 CDT

SBA to Make Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic U.S. Small Business Administration Administrator Jovita Carranza announced today that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal started accepting applications at 11 am central today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed into law by the President one week ago, provided additional funding for farmers and ranchers and certain other agricultural businesses affected by the Coronavirus (COVID-19) pandemic.

“For more than 30 years, SBA has been prohibited by law from providing disaster assistance to agricultural businesses; however, as a result of the unprecedented legislation enacted by President Trump, American farmers, ranchers and other agricultural businesses will now have access to emergency working capital,” said Administrator Carranza. “These low-interest, long-term loans will help keep agricultural businesses viable while bringing stability to the nation’s vitally important food supply chains.”

Agricultural businesses include businesses engaged in the legal production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)). Eligible agricultural businesses must have 500 or fewer employees.

The SBA will begin accepting new EIDL applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. For agricultural businesses that submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying. All other EIDL loan applications that were submitted before the portal stopped accepting new applications on April 15 will be processed on a first-in, first-out basis.

For more information, please visit: www.sba.gov/Disaster.


   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Cleaning on a Regular Basis is a Must in Offices as We Return to Workplace  Mon, 01 Jun 2020 09:45:18 CDT
  • California Scientist Believes Cattle Are Not Adding Extra Methane To The Environment  Mon, 01 Jun 2020 09:44:45 CDT
  • Lucas Praises Successful SpaceX Launch: This is a New Era of Space Travel  Mon, 01 Jun 2020 09:37:57 CDT
  • National Dairy Month to Recognize Dairy Farmers’ Commitment to Communities  Mon, 01 Jun 2020 08:37:06 CDT
  • New Thresholds, Familiar Program Helps Bull Buyer Narrow Options  Mon, 01 Jun 2020 07:33:28 CDT
  • Monday Preopening Market Update with Dave Lanning   Mon, 01 Jun 2020 07:04:56 CDT
  • Lucas Joins Colleagues Advocating Flexibility for Oklahoma’s Cattle Producers  Mon, 01 Jun 2020 07:01:47 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, May 29  Sun, 31 May 2020 16:40:47 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma City Farm Show KIS FUTURES, INC. Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.