Johnson Urges Clarification for Farmers and Ranchers on SBA Loans
Washington, D.C. – U.S. Representative Dusty Johnson (R-S.D.) joined House Agriculture Committee Republicans and Ranking Member Conaway in urging the Small Business Administration (SBA) to ensure SBA approved lenders are not wrongfully turning eligible farmers and ranchers away when applying for the Paycheck Protection Program.
“Although it is clear that farmers and ranchers are eligible under the PPP, and the U.S. Department of Agriculture has issued a publication confirming this, there remains confusion on the ground,” said Johnson. “Farmers and ranchers are being turned away by lenders who believe producers are ineligible. We respectfully urge you to publicly correct this misunderstanding immediately, so producer applications are not at a disadvantage because they are submitted late.”
Additionally, Johnson and House Agriculture Republicans requested the SBA expand the scope of the employee definition so employers can properly calculate eligible payroll costs under the Paycheck Protection Program.
To read the full letter click here.