As of May 5, 2021, MidAtlantic Farm Credit is no longer accepting applications for the second round of PPP loans. If you have any questions about this program, please contact your loan officer or give us a call at 888.339.3334 or email email@example.com.
SBA has provided many informational resources we've listed below:
In order to apply for a PPP loan during this round of funding, you must have used all of your funds from last year’s PPP loan. You must also employ 300 or fewer employees whose principal place of residence is in the United States, including nonprofits, veterans organization, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors, or are a business that operates in a certain industry and meet the applicable SBA employee-based size standards for that industry. Applicants must be able to show a 25% reduction in gross receipts from 2019 to 2020 (or any 2019 quarter versus the corresponding 2020 quarter). In addition, your business must meet current Farm Credit eligibility requirements to obtain funding from a Farm Credit institution. More information can be found on the SBA’s PPP website.
Who do I contact if I’m interested in applying for a SBA PPP loan through MidAtlantic?
As of May 5, 2021, MidAtlantic Farm Credit is no longer accepting applications for the second round of PPP loans.
How do I apply for Loan Forgiveness?
Contact your loan officer to receive a link to access the electronic submission portal when it is time for you to submit your loan forgiveness application. If you need help getting in touch with them, please call 888.339.3334 or email firstname.lastname@example.org. Review the resources and application types on the SBA website to be prepared with necessary documentation but do not fill it out yet. If any of the required information is missing or incomplete, you risk being denied forgiveness.
USDA Coronavirus Food Assistance Program Additional Assistance
USDA has expanded support to certain producers and commodities through additional assistance being provided through the Coronavirus Food Assistance Program, known as CFAP – most notably to include contract broiler growers.
Applications for newly eligible growers and modified applications can be submitted to USDA's Farm Service Agency (FSA) from January 19 to February 26 and are not provided through Farm Credit. Click the button below to go to the application page.
In response to the Coronavirus (COVID-19) pandemic, small business owners, including farmers, in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. These are direct SBA loans and are not provided through Farm Credit.
As our environment changes as a result to the pandemic disruptions, other organizations may be offering additional funding opportunities to small businesses. We will list programs here as they are announced.