HIGHLIGHTS OF MONIES FOR THE FARMER STIMULUS PAYMENT
• Checks amounting to $1,200 per adult and $500 for every child under 16 will be headed to farmers and ranchers and every other household nationwide to help stanch the flow of red ink caused by the spread of the virus. The total cost: $301 billion. • The Commodity Credit Corporation will receive $14 billion in addition to the $30 billion that was already budgeted. At the discretion of the USDA secretary, that money goes to domestic farm income, price support and conservation programs; foreign market development; and the U.S. Agency for International Development programs within the USDA, according to the bill. • $9.5 billion is set aside for direct aid to livestock and specialty crop producers. It is to support farmers and ranchers impacted by coronavirus, including “producers of specialty crops, producers that supply local food systems including farmers’ markets, restaurants and schools and livestock producers, including dairy producers.” • Small businesses will be eligible to receive loans from the Small Business Administration to help with payroll, rent, health insurance costs and other costs. No collateral or guarantee is required. • An additional $15.8 billion will go to the Supplemental Nutrition Assistance Program, or SNAP. That’s on top of about $58 billion already budgeted for the program. • $3 million for restarting experiments in forest and range research that fail because of the employee restrictions caused by the virus outbreak. • $450 million through the Commodity Assistance Program to distribute commodities to food banks and others in need. • $34 million for cleaning and disinfecting U.S. Forest Service public recreation facilities and for virus testing of first responders such as wildland firefighters. • $55 million for the Agricultural Quarantine and Inspection Program. • $45 million for commodity grading and inspections through the Agricultural Marketing Service. • $33 million for temporary workers in the Food Safety and Inspection Service. • $3 million for temporary staff and overtime for Farm Service Agency employees. • $20.5 million for loans to business development programs through USDA Rural Development. • $25 million for telemedicine and distance learning through the USDA Rural Utilities Service. • $8.8 billion for child nutrition through the USDA Food and Nutrition Service. • $4 million to move Foreign Agricultural Service employees to the U.S. from overseas. • $100 million for broadband internet in rural areas through the Rural Utilities Service.
ATTENTION: COVID-19 RELIEF INFORMATION BELOW
We are trying to help our customers the best we can, in any way we can, during these tough times. We have found information on loans and other relief programs out there for small businesses, which farmers can apply for, to help get through these hard times. On the left side there is an article from “Fox Business” about small business loans that are available during the COVID-19 pandemic. We have also attached links below for additional information. The first link will take you to Steve’s accountant’s website (Wegner CPA). The second link will take you to Farmers Savings Bank’s website, which has information and updates as well.. If you have questions on these programs or want to learn more don’t be afraid to reach out andtalk to YOUR banker or accountant. This is something to do sooner than later because once the funds for this relief package are exhausted, no more applications will be accepted. There are many resources and articles about loans and relief packages that can be very helpful to small businesses. There are loans out there for small businesses that are forgivable, or have very low interest rates. The tools are out there to help get through this, and we will keeping looking and digging for information as much as we can. We will get through this together, keep fighting!
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