The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.
The loan amounts will be forgiven as long as:
· The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made
· Employee and compensation levels are maintained. Payroll costs are capped at $100,000 on an annualized basis for each employee.
When can I apply? · Starting April 3, 2020, small businesses and sole proprietorship can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
· Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
· Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program.
Where can I apply? You can apply through any existing SBA lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Below is the approved lander in Caswell County
American National Bank and Trust Company
What do I need to apply? You will need to complete the Paycheck Protection Program loan application and submit the application with the required documentation to an approved lender that is available to process your application by June 30, 2020.
Connecting Farmers and Land
About NC FarmLink:
NC FarmLink connects farmers, landowners and service providers in North Carolina as a free land access web tool co-managed by the Center for Environmental Farming Systems and WNC FarmLink. It is collaboratively managed and supported by a network of partners across the state. For more information, visit:
ncfarmlink.org
.
About WNC FarmLink:
WNC FarmLink matches farm and forest landowners with new and experienced farmers eager to find land to farm in WNC. The program is a free service to WNC residents. WNCFL offers personalized one-on-one consultation, provides group workshops to help beginning farmers negotiate equitable leases and prepare logistically and financially for long-term land tenure and purchase, which is a major obstacle for beginning farmers. For more information, visit:
wncfarmlink.org
.
The goals of NC and WNC FarmLink include:
● Providing a web-based farmland matching service, where users can search and pursue matches on their own.
● Providing resources and service provider information, which can help support the farmland access or transition process.
● Creating farmland access opportunities that support local agriculture and economies.
● Ensuring farmland preservation in North Carolina through these farmland matching services.
Grant Opportunity
Applications Now Open! –Emergency mini-grant application now open for farmers!
Applications due April 26th at 6pm
As the impacts of COVID-19 continue to unfold day to day, RAFI-USA recognizes that farmers across the country are facing extreme difficulties. To help lessen the financial toll of this outbreak, RAFI-USA is distributing emergency relief grants in the amount of $500 for NC farmers who have seen drastic impacts to their business and household as a result of COVID-19. At this time we are only able to offer this funding to North Carolina farmers.
Purpose of Funds: The mini-grant funding is $500 and is meant to lessen the immediate financial needs of farmers and their households. This means funds could cover expenses like food, medical bills, utility bills, etc. The funds are NOT meant to cover farm production expenses.
Eligibility: Currently we are only able to award funding to farmers in North Carolina. Depending on funding we may be able to expand this demographic range. If you are not in NC you can still fill out an inquiry form here in the event our funding increases.
Priority Applicants: Because available funds are limited, we will prioritize farmers who 1) are severely impacted by COVID-19 to the degree that they are struggling to cover ordinary expenses, 2) are not able to access other federally-funded emergency relief funds (i.e. PPP), and 3) earn a substantial portion of their household income from farming. Because RAFI-USA’s funds are limited, we ask that farmers carefully consider whether this emergency relief grant applies to their situation.
Application and Payment Process: The application for emergency relief funds is now live! There is an online survey (link below) or a word document version you can download, fill out, and email back to Craig at craig@rafiusa.org. Applications are due April 26th at 6pm. We expect to start distributing grant awards by early May.
USDA Beginning farmers and ranchers’ loans
America's next generation of farmers and ranchers are supported through FSA's "Beginning Farmer" direct and
guaranteed loan
programs.
Farm Ownership
loans can provide access to land and capital.
Operating loans
can assist beginning farmers in become prosperous and competitive by helping to pay normal operating or family living expenses; open doors to new markets and marketing opportunities; assist with diversifying operations; and so much more. Through the
Microloan programs
, beginning farmers and ranchers have an important source of financial assistance during the start-up years.
Submitted By: Anass Banna, Smalls Farm Agent
