Farmers, ranchers, and ag related industries have until June 30, 2020 to take advantage of the Small Business Administration Paycheck Protection Program (PPP) for economic impacts due to COVID-19.
Funding is available in the form of working capital for ag producers with 500 or fewer employees. There is no cost or obligation to apply. Applications may be made through local SBA-approved lenders.
South Dakota Farm Bureau (SDFB) urges producers to look into the SBA programs that are available for those engaged in farming, ranching and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
In addition to PPP, SBA is accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications to qualified small businesses and U.S. agricultural businesses and nonprofits.
"SBA is pleased to present this funding to help keep agricultural businesses viable while bringing stability to the nation's vitally important food supply chains," said Jaime Wood, SBA South Dakota District Director.
SDFB recently hosted a webinar with SBA to hear updates on Covid-19 small business economic disaster response programs. To view the webinar visit: