SBA Relief Loans for Agriculture Businesses
As of May 4, 2020, the Small Business Administration (SBA) announced that it would now be accepting applications for Economic Injury Disaster Loan (EIDL) advances for up to $10,000 for agricultural businesses with 500 or fewer employees. Historically, the SBA has been prohibited from assisting the agricultural sector during disaster. These are low-interest loans meant to provide relief to businesses impacted by the COVID-19 pandemic, with applications being accepted by agricultural businesses exclusively until further notice.
For any business that has already sent in an application prior to the reopening of this portal, you need not submit again. Your application will be reviewed.
Agricultural businesses includes those businesses engaged in the 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)).
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.
Find the application here: https://www.sba.gov/funding-programs/disaster-assistance
California’s Small Business Development Center (SBDC) has a video that outlines the forms necessary to apply for an EIDL: Coping with COVID: Forms needed to apply for disaster assistance
Farm Commons has a webinar detailing information about EIDL: https://farmcommons.org/economic-injury-disaster-loans-farmersranchers-affected-covid-19
The Native American Agriculture Fund will continue to monitor updates as it relates to agricultural relief and response in the face of COVID-19.