August 2021 Covid Relief Updates

There’s been some changes in the SBA Covid Relief Programs recently. Read below to learn more about these changes and how they might impact your business. PPP Loan Forgiveness The Paycheck Protection Program (PPP) loan period ended May 31, 2021. Existing borrowers may be eligible for loan forgiveness for all of their PPP loan. Loan…

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PPP Direct Loan Forgiveness Portal Opens Aug. 4

The U.S. Small Business Administration (SBA) has announced that it has created a PPP Direct Loan Forgiveness Portal to streamline the process by which small businesses who received less than $150,000 can apply for loan forgiveness. Over 600 banks have opted in to use the new portal created by SBA and other lenders are being…

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SBA Re-Opens EIDL For Ag Biz Only

Hands holding a cut apple

When the SBA first started offering Economic Impact Disaster Loans (EIDL) with an associated cash-advance to help counter the impact of the Corona virus on small businesses, farm-based businesses were disqualified from applying. Farming advocates were hopeful that the USDA was going to provide financial relief to those businesses as prescribed by the CARES Act,…

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