Farmers can try for SBA loans, now, but it won't be enough

It is something, though, and that is a positive.

Last week the federal Small Business Administration (SBA) opened an online portal exclusively for “agricultural enterprises” (read: farmers) to apply for a Economic Injury Disaster Loan (EIDL). For decades prior, farmers had been barred from accessing this low-interest, long-term loan program...

PPP also quickly ran out of funding (since replenished), and many expect the same fate for EIDL given the backlog of requests and the scale of need. Chastang said, “The SBA cannot speculate on when those funds will be exhausted.”

“It’s helpful but it’s not enough,” said NFFC’s Treakle. “This program is going to run out of money and there aren’t enough resources in this particular program to help farmers in need.”

He also expressed concern that farmers who don’t fit the commodity mold—independent, diversified, or organic producers, who sell directly into local and regional markets—will be left out. - The Counter