Farmers and hemp businesses are eligible for another round of emergency loans with the enactment Friday of more federal funding aimed at keeping small businesses afloat.
The law includes $321 billion to fund the U.S. Small Business Administration’s Paycheck Protection Program (PPP).
Of that, $60 billion is designated for smaller lending facilities, including community financial institutions and credit unions with assets less than $10 billion.
The legislation specifies that farms with fewer than 500 employees are eligible for Economic Injury Disaster Loan (EIDL) program, which provides up to $10,000 in advance for small businesses.
To learn more about emergency small-business assistance, click here.