Last Friday, WG, in partnership with alliantgroup Washington insiders, presented a webinar on The CARES Act featuring Mike Johanns, former Secretary of Agriculture; Rick Lazio, former Congressman; and Dean Zerbe, former Senior Counsel to the Senate Finance Committee.

The panel of presenters covered updates to the CARES Act, including the replenishment of PPP, and its impact on the agriculture industry. In addition, the presentation provided a review of the existing tax relief incentives that growers and processors are eligible to benefit from as agricultural businesses.

Yesterday, USDA announced details of $470 million in Section 32 food purchases to occur in the third quarter of fiscal year 2020, in addition to purchases previously announced, which will enable USDA to purchase surplus food for distribution to communities nationwide.

These Section 32 purchases will provide additional support for producers and Americans in need, in response to changing market conditions caused by the COVID-19 national emergency.

Cory Lunde

The U.S. Small Business Administration (SBA) is now accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications from agricultural businesses.

Previously excluded from the EIDL, agricultural businesses were explicitly granted access to the loan program in the latest round of coronavirus relief funding. However, while additional funding had been provided to the EIDL, the application process remained closed to new applicants due to the unprecedented submission of applications already received.

Cory Lunde

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