Agricultural Producers Deemed Eligible For SBA Disaster Loan Program

• The U.S. Small Business Administration (SBA) has reopened its Emergency Economic Injury Disaster Loan (EIDL) program to farmers and agricultural producers in response to the COVID-19 crisis.
• Under the new solicitation, agricultural enterprises with fewer than 500 employees, including sole proprietorships, are eligible.
• The move represents the first time in more than 30 years that the SBA has been authorized to provide disaster assistance to agricultural businesses.

The U.S. Small Business Administration (SBA) reopened its Emergency Economic Injury Disaster Loan (EIDL) program to farmers and agricultural producers on May 4, 2020. Although farmers were excluded from EIDL eligibility in its first round, Congress approved $60 billion in additional funding for the program on April 23 with specific statutory direction to allow farmers to apply for aid in response to the COVID-19 crisis (Paycheck Protection Program and Health Care