Coronavirus has adjusted several laws across the country and with the most recent announced Monday.
Legislation passed by President Donald Trump last week will allow the United States Small Business Administration to process loan applications from Agricultural businesses with less than 500 employees.
These loans will be provided through the Economic Injury Disaster Loan program, and SBA Administrator Jovita Carranza says “These low-interest, long-term loans help keep agricultural businesses viable while bringing stability to the nation’s vitally important food supply chain.”
The SBA will be accepting new applications on a limited basis. For any agricultural business that submitted a loan application before the legislative change these applications will now be processed without the need to reapply. New applications will be processed on a first-come, first-serve basis.
For more information please visit www.sba.gov/Disaster.
