Kind Pushes For Change To PPP Rule
A rule change advocated by Representative Ron Kind allows rural states a larger share of the Paycheck Protection Program. The Wisconsin Democrat said the Paycheck Protection Program has been a lifeline for farmers and small businesses, but too many were getting left behind.
“I worked hard to make sure that our family farmers also qualified as a small business for the Paycheck Protection Program, because they are small businesses and they have been going through a very tough time during the COVID crisis. So, we accomplished that last year in the COVID package and we’re making sure that is being rolled out and that it works well with the Small Business Administration.”
In June, Kind and others introduced bipartisan legislation to expand access to PPP loans for certain farmers and ranchers who had previously been deemed ineligible for loans under the program. The legislation was included in the COVID-19 relief package that was passed in December. However, Kind said the change is not complete.
“The Small Business Administration has decided to limit the qualification to just sole proprietorships. That does exclude partnerships and LLCs, and that wasn’t Congress’s intent. As long as you’re a family farm operation with up to $100,000 worth of gross profits using Schedule F as your tax form, you should be qualifying for the PPP program. So, we’re working with SBA now to clarify that.”
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