Kustoff Announces New COVID-19 Assistance for Farmers
WASHINGTON, DC – Today, Rep. David Kustoff (TN-08) announced that agricultural businesses are now eligible for the Small Business Administration's Economic Injury Disaster Loans (EIDL). This portal reopened today as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation provided additional funding for farmers and ranchers and certain other agricultural businesses affected by the Coronavirus.
“As COVID-19 impacts our country, farmers have faced extremely uncertain times. This announcement will help West Tennessee farmers make ends meet and bring stability to our country’s food supply chain during this unprecedented time,” said Rep. Kustoff.
The SBA will begin accepting new EIDL applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses. For agricultural businesses that submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying. All other EIDL loan applications that were submitted before the portal stopped accepting new applications on April 15 will be processed on a first-in, first-out basis.