Farm organizations along with some House members are charging the Small Business Administration with not following Congressional intent by excluding farmers from the Economic Injury Disaster Loan program. Nebraska Farmers Union President John Hansen says that program is badly needed by agriculture, especially at this time as they’re experiencing an economic downturn.
He says many producers are lacking the capital they need to continue operating and having the SBA EIDL program would help them with that problem.
Hansen says the Economic Injury Disaster Loan program fits in well with smaller producers.
The SBA’s EIDL allows low interest loans of up to $2 million to small businesses. It also sets up funds for individual grants to small businesses of up to $10,000.
