FOR IMMEDIATE RELEASE:
The SBA has opened an "Ag Only" loan application window. This is the Economic Injury Disaster Loan and Advance. You will need your total farm income for 2019, your total cost of goods sold (expenses), EIN or SSN, bank account number and bank routing number to apply online. Tax returns are not needed for application.
The details of this program are still evolving, and you are applying under penalty of perjury for false statements. Successful applicants may be eligible for up to a $10,000 advance on the loan payment, which MAY not need to be repaid. Loan terms are 3.75% interest and up to 30 years for repayment.
A more detailed resource guide is available from our friends at Farmer's Legal Action Group, here:
And the application portal is here:
We will post more as details emerge, but we urge you to consider whether this opportunity is right for you!