BISMARCK – Applications for the Small Business Administration’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs are now available for agricultural businesses with 500 or fewer employees. The programs will provide low-interest loans up to $2 million and grants up to $10,000.
“The amendment signed by President Trump allows farmers, ranchers and other agricultural businesses to apply for relief,” Agriculture Commissioner Doug Goehring said. “I encourage eligible applicants to quickly apply as the funding is on a first-come, first-served basis.”
Ag businesses will need to show they have been affected by the economic downturn caused by COVID-19. Agriculture businesses should go to the SBA website at https://covid19relief.sba.gov/ to apply. Ag businesses who had previously submitted their applications before the legislative change need not reapply.