Economic Injury Disaster Loans Available to U.S. Agricultural Businesses Impacted by COVID-19 Pandemic
The Small Business Administration (SBA) will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only, in order to provide relief to U.S. agricultural businesses. The application is available at: www.SBA.gov/Disaster. At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. The SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application. The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic. Agricultural businesses includes those businesses engaged in 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)). For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying. To prepare your application, review the EIDL webinar: https://farmcommons.org/economic-injury-disaster-loans-farmersranchers-affected-covid-19 and reference this helpful tutorial video: https://vimeo.com/399334577?utm_medium=email&utm_source=govdelivery that walks through the application process, step by step. For more info. or to apply, please visit: www.sba.gov/Disaster.