EIDL Loans for Farmers – Apply Now

EIDL offers low-interest loans of up to $2 million to small businesses that have been affected financially by the coronavirus pandemic.

EIDL Advance offers an advance on loans to provide recipients with more immediate relief. Applicants can receive $1,000 per employee, including themselves, up to $10,000. The loan advance does not need to be repaid.

Businesses with fewer than 500 employees are eligible to apply.

Currently, EIDL and EIDL Advance are open only to agricultural businesses engaged in the production of food or fiber, ranching, raising of livestock, aquaculture, and other farming and agricultural industries. Farms and ranchers were not initially eligible for EIDL, a fact that National Farmers Union (NFU) urged SBA to change more than a month ago. NFU appreciates SBA and the U.S. Department of Agriculture’s ongoing efforts to ensure farmers have access to financial assistance.

EIDL loans can be used to pay fixed debts, payroll, accounts payable, and other bills that would have be paid had the pandemic not occurred. EIDL is not intended to offset lost sales or profits, or to pay for business expansion.

Applications for EIDL can be submitted online here. Those who applied before SBA opened the program only to agricultural businesses do not need to reapply. Loans will be allocated on a first come, first-served basis and funding is expected to run out quickly, so we encourage any interested individuals to apply as soon as possible.

SBA’s website has more information about EIDL eligibility and applications. Additionally, the USDA hosted a webinar on EIDL – it can be viewed here.