U.S. Small Business Administration Administrator Jovita Carranza announced recently that agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs.
SBA’s EIDL portal reopened earlier this month as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, signed into law by President Trump, 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 Carranza. “These low-interest, long-term loans will help keep agricultural businesses viable while bringing s...
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