A deal to replenish the Payroll Protection Plan (PPP) under the coronavirus aid package has been reached, but had not yet been put to paper as of this afternoon according to Sen. Jerry Moran (R-Kan.).
Moran told Farm Journal Live the latest aid package, in addition to key funding for forgivable loans through the Small Business Administration, contains some key provisions for agriculture and rural America.
“We’re working to try to make sure our small community hospitals can access this [PPP] program, but farmers are eligible,” Moran said. “In the new package, we expect, there’s another SBA program called [Economic Injury Disaster Loan], and as of yesterday, I was assured that farmers would now qualify for that program as well. But we’re expecting to add 310 billion dollars to the small business loan guarantee program, the PPP program in this package, and I think it gets done this midweek.”
Watch the Farm Journal Live recording in the player above for Moran’s full update on how Congress is responding to the pandemic.
