Western AgCredit is now accepting applications for SBA’s Paycheck Protection Program (PPP) from current customers. These relief loans are part of the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT) signed by President Trump on March 27, 2020.
This $2 trillion relief legislation authorized $349 billion for the PPP to help small businesses that are suffering economically. Although most farmers and ranchers have been able to continue to operate during this challenging time, there are several factors impacting profitability such as material price declines as product distribution channels have been disrupted that make this program important to agriculture.
Applying in a timely manner is essential because the initial allocation of $349 billion is expected to go quickly. However, additional money may become available since legislation has already been proposed to authorize more funding to this program.
Western AgCredit is pleased to offer PPP loans to assist farmers and ranchers. Please see the additional information below on eligibility and program parameters as well as learn how to apply.
Eligibility and Program Parameters
For more detailed information, see the PPP Information Sheet.
Please contact your loan officer or your local branch for more information and assistance with the application process.