From USDA: For More Info, Go Here…
USDA’s Under Secretary for Farm Production and Conservation Bill Northey and Deputy Under Secretary for Rural Development Bette Brand today held a joint announcement to
provide guidance from the respective agencies on the resources provided in the Paycheck Protection Program and Health Care Enhancement Act (HR.266) recently passed by Congress and signed into law by President Trump.
The Act provides the following additional resources to the U.S. Small Business Administration for both the Paycheck Protection Program (PPP) and the Economic Injury Disaster Advance Loan (EIDL).
• $310 Billion is included to replenish the PPP, with $60 Billion of that amount set aside for lending institutions that have less than $50 Billion in assets
• $60 Billion has been added to the EIDL, with $50 Billion in loan authority and $10 Billion for grants.
• Businesses experiencing a temporary loss of revenue can get a grant for $10,000 and borrow up to $2 Million under the EIDL program.
• For the first time, agricultural enterprises are now eligible for the disaster assistance from EIDL The Act also provides resources for hospitals and health care – including rural health care providers – by providing the U.S. Department of Health and Human Services with $75 billion in emergency relief to reimburse expenses or losses related to the Coronavirus outbreak and $25 billion to improve and expand COVID-19 testing capacity.
There is a special set-aside in the bill that allocates resources specifically for rural health