On Friday, you should have received an email from me regarding the Paycheck Protection Program through the SBA. The application submission period opened April 3, 2020, so it is extremely important that farms call/email their lender to get in on this pot of funds. It is on a first-come, first-served basis and money is already being allocated to businesses very quickly. I have attached an application form that can be filled out but please note:
1.) You must have supporting documents attached – preferably your 943 from 2019. This is how the government will verify the farm’s ask and potentially get a loan forgiven.
2.) If you are incorporated/in a partnership/LLC you must have the appropriate filings from the state that show the business is legitimate.
3.) If you are a sole proprietorship or independent contractor – you can begin applying April 10. If you do not know what to claim, call your accountant. If your guess is too high, you may get kicked out or not get future loan forgiveness.
4.) You must submit your application to an SBA lending institution. Contact your lender or depository if you do not have a business relationship with a specific lender.
Need information? View the following Cornell CALS and CCE Resource Pages Updated Regularly
General Questions & Links:
Food Production, Processing & Safety Questions:
Employment & Agricultural Workforce Questions:
Cornell Small Farms Resiliency Resources:
Financial & Mental Health Resources for Farmers:
Cornell Farmworker Program
www.trabajadores.cornell.edu (en espanol)