President Trump on Friday signed the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266) into law, providing additional funding for small business loans, health care providers and COVID-19 testing. The House and Senate approved the legislation earlier this week.
The legislation provides an additional $320 billion to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). State corn grower associations last week urged Congressional leaders to provide this additional funding to ensure that agricultural businesses can continue to operate during the ongoing COVID-19 pandemic.
Demand for PPP is expected to remain high. Farmers interested in participating are encouraged to contact their lender as soon as possible.
The legislation also makes farms eligible for SBA’s Economic Injury Disaster Loan (EIDL) Program, clarifying that agricultural businesses with fewer than 500 employees are eligible, and makes a $60 billion available for the program.
NCGA is taking a series of actions to help address the economic fallout of COVID-19 and creating solutions to help corn farmers and their customers recover from the financial impacts of this crisis. Learn more about NCGA actions here.
NCGA is taking a series of actions to do our part to help contain the spread of the coronavirus (COVID-19) and the economic fallout it is creating for corn farmers and our customers. Short term, this means instituting policies to protect the health and safety of our stakeholders and the broader communities we serve. Long term, we’re focused on creating solutions to help corn farmers and our customers recover from the financial impacts of this crisis.
CommonGround is a group of farmers connecting with consumers through conversations about science and research and personal stories about food and misinformation surrounding farming. Supported by the NCGA and state corn organizations.
The Soil Health Partnership (SHP) is a farmer-led initiative that fosters transformation in agriculture through improved soil health. Administered by NCGA the partnership has more than 220 working farms enrolled in 16 states. SHP’s mission is to utilize science and data to partner with farmers who are adopting conservation agricultural practices that improve the economic and environmental sustainability of the farm.