Update: Paycheck Protection Loans Available to Farmers – Apply Now

Posted On April 6, 2020— Written By and last updated by

UPDATE:

The Small Business Administration system has been overwhelmed. Farm Credit is not ready to accept applications.

Since it is anticipated that the funding will be limited, farmers needing funds immediately are encouraged to go to the bank where they have a depository relationship.

Get the list of SBA lenders serving North Carolina small businesses.

Funds from this program will be allocated to small businesses on a first-come, first-served basis. It is recommended to reach out to an approved lender as soon as possible.

View the sample application

Farmers can apply for the PPP through any existing SBA 7(a) lenders or through any federally insured depository institution, federally insured credit union or Farm Credit System institution that is participating. Current eligible lenders can be found by searching the SBA website.

All federally insured depository institutions, federally insured credit unions and Farm Credit System institutions that are not existing SBA lenders can begin making loans once they are approved and enrolled in the SBA program.

More information is forthcoming.

Written By

Eve Kindley, N.C. Cooperative ExtensionEve KindleyCounty Extension Director and Extension Agent, 4-H Youth Development Call Eve E-mail Eve N.C. Cooperative Extension, Mitchell County Center

Contributing Author

Blake Brown, N.C. Cooperative ExtensionDr. Blake BrownHugh C. Kiger Professor and Extension Economist Call Dr. Blake E-mail Dr. Blake Agricultural & Resource Economics
NC State Extension, NC State University
Updated on Apr 7, 2020
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