In response to the COVID-19 pandemic, agribusiness owners can apply for an Economic Injury Disaster Loan of up to $10,000 through the Small Business Administration. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.
SBA has resumed processing EIDL applications that were submitted before April 15 on a first-come, first-served basis. New applications are being accepted on a limited basis specifically for agribusinesses. The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic.
SBA is encouraging all eligible agribusinesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.