Farms and other agribusinesses are now eligible for the Small Business Administration's Economic Injury Disaster Loans — known by the initials…
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A nearly $484 billion COVID-19 aid package flew through the Senate Tuesday after Congress and the White House struck a deal to replenish a small business payroll fund and provide new money for hospitals and virus testing. Agribusiness leaders hope farmers and ranchers will get a bigger slice of the pie this time, but once applications open, funding is expected to run out in 72 hours.
Experts say farms and agribusinesses missed out on most of the funding for several reasons.
The Small Business Administration has so far excluded most agricultural producers from economic injury disaster loans related to coronavirus.