Economic Injury Disaster Loans Now Available to U.S. Ag Businesses Impacted by COVID-19 Pandemic

May 07, 2020

Agricultural producers, for the first time, are now eligible for the Small Business Administration (SBA)’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs. SBA’s EIDL portal has been closed since April 15, but this week the agency reopened the portal in a limited capacity as a result of funding authorized by Congress through the Paycheck Protection Program and Healthcare Enhancement Act. The legislation, which was signed into law by President Trump one week ago, provided additional critical funding for farmers and ranchers affected by the Coronavirus (COVID-19) pandemic. In order to help facilitate this important change to EIDL Loan and EIDL Advance assistance eligibility, SBA is reopening the Loan and Advance application portal to agricultural enterprises only. For agricultural producers who submitted an EIDL loan application through the streamlined application portal prior to the legislative change, SBA will move forward and process these applications without the need for re-applying. All other EIDL loan applications that were submitted prior to April 15 will be processed on a first-in, first-out basis. For more information, click here.