Legislative Fix Introduced to Make More Farmers Eligible for PPP
Supporters says new bipartisan legislation will make more farmers and ranchers eligible for the Paycheck Protection Program.
Representative Ron Kind, a Wisconsin Democrat, and Jeff Fortenberry, a Nebraska Republican, recently introduced the Paycheck Protection Clarification for Producers Act. The legislation would allow farmers and ranchers organized as partnerships or limited liability companies access to the program. The lawmakers say these farmers have been unable to apply for loans under the new calculation because of the Small Business Administration's interpretation of eligibility for partnerships or limited liability companies.
Representative Fortenberry said Nebraska leads the U.S. in per capita PPP loans approved. However, adds, "Due to quirks in the law, some farmers hard hit by COVID-19 were left out.”
Representative Kind stated, “No farmer should be shut out of this crucial program and denied a financial lifeline because of an interpretation error.”
Click Here to read the Paycheck Protection Clarification for Producers Act.
Kind previously led legislation that allowed farmers more access to the PPP, which was included in the latest COVID-19 relief package.
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