Farmers and ranchers are now eligible for Economic Injury Disastor Loans (EIDL) through the Small Business Administration (SBA), as of Friday April 24th, 2020, . The EIDL program provides an emergency grant of up to $10,000 for small businesses suffering a loss of revenue because of COVID-19. In this tutorial, we discuss the specifics of eligibility and how to submit an application through the SBA. Issues with how the program has performed over the past few weeks will also be in the discussion, as well as how EIDL works with other relief options. This is a valuable opportunity, especially for farms unable to receive a Paycheck Protection Program forgivable loan.
Disclaimer: We are working hard and fast to get information together about COVID-19 related programs to share with the farming community as quickly and accurately as possible. Please note that things are rapidly shifting during this time and what was accurate info 2 days or 2 weeks ago may not be accurate tomorrow. As such, please look for our most recent updated information on all COVID-19 issues.