BISMARCK – U.S. Senator Kevin Cramer (R-ND) issued the following statement on the U.S. Small Business Administration (SBA) announcing agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs:
“Allowing agricultural producers to access EIDL programs puts another tool in the tool chest to assist our farmers and the food they produce in making it through the COVID-19 pandemic. I urge the agriculture community to work with SBA to make sure they receive the help they need.”
SBA Administrator Jovita Carranza made this announcement today.
“For more than 30 years, SBA has been prohibited by law from providing disaster assistance to agricultural businesses; however, as a result of the unprecedented legislation enacted by President Trump, American farmers, ranchers and other agricultural businesses will now have access to emergency working capital,” said Administrator Carranza. “These low-interest, long-term loans will help keep agricultural businesses viable while bringing stability to the nation’s vitally important food supply chains.”
New EIDL funds were made available as a result of additional CARES Actfunding, which included $50 billion for EIDL and $10 billion for EIDL Advance. Congress passed this legislation and President Trump signed it on April 24.
To apply, visit sba.gov/disaster.