The National Farmers Union is advising those producers applying for help through the Small Business Administration’s Paycheck Protection Program to read the guidance the agency has put out for the program. NFU’s Senior Government Relations Representative Aaron Shier says there have been some snags with the PPP that’s made it tough for some farmers and ranchers to qualify for the aid.
He says Congress should make some changes to the SBA’s program and look at using some type of average income when calculating payment eligibility.
Shier says it’s okay to apply for the assistance but make sure you know what you’re agreeing to and that there is still money available.
Shier says it’s critical applicants to the PPP realize that just because it’s a so called forgivable loan, there are still requirements that must be met.
Shier says if you have any questions make sure and consult with your tax advisor.
