CARES Act: Implications for Farmers and Ranchers

Type
Course
Date of Publication
July 7, 2021
Price
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Topics:

Overview

This training discusses Phase 3 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act as it relates to economic assistance for agricultural operations.

Course Information

Experts from the Agricultural and Food Policy Center at Texas A&M University cover Phase 3 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and how it applies to Texas agricultural producers. Dramatic shifts in food purchasing behavior have affected the agricultural supply chains. These disturbances have been especially troublesome for producers of livestock, fruits and vegetables and dairy products.

In this 30-minute course, you will learn about available support for agricultural producers, details of each lending provision, and how you can apply for assistance. The small business lending provisions covered in this course are:

  • Paycheck Protection Program (PPP): loans for small business (including farms and ranches) to keep workers paid and employed
  • Economic Injury Disaster Loan (EIDL): loans for working capital (farms and ranches were initially ineligible)
  • Note: On April 23, 2020, Congress revisited the CARES Act, passing H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, which provided an additional $319 billion for PP. It also made 'agricultural enterprises[s]... with not more than 500 employees' eligible for EIDL loans.
  • Coronavirus Food Assistance Program (CFAP): direct assistance for agriculture

This course series continues with the Coronavirus Food Assistance Program Training.

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