Much attention has been focused on whether agriculture operations can qualify as small businesses under the $349 billion in loans/guarantees in the third round of COVID-19 aid.
The American Farm Bureau Federation on Friday revised its analysis of the Small Business Administration's (SBAs) Paycheck Protection Program Loans.
“Based on our analysis of the IFR [interim final rule], we are pleased to confirm that the IFR removes the industry-specific revenue thresholds. Agriculture enterprises that employ 500 or less people whose principal place of residence is in the United States are eligible, regardless of revenue levels.”
The group also sent a six-page letter to USDA Secretary Sonny Perdue detailing recommendations for spending the $23.5 billion that was included in the Phase 3 economic stimulus package, including aid to the ethanol sector ($14 billion in Commodity Credit Corporation (CCC) borrowing authority and $9.5 billion for USDA to provide help to producers of livestock (including dairy) and fresh fruit and vegetable growers and specialty-crop farmers).
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