Farmer Financial Resources – Summer 2020

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A List of Farmer Financial Resources Available in the Summer of 2020

PPP is Open Again, Until August 8th – Farmer Financial Resources

The Paycheck Protection Program (PPP) provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans will be forgiven, which helps workers remain employed, as well as helps affected small businesses and our economy to snap-back more quickly after the crisis. LEARN MORE HERE.

PPP Loan Forgiveness Program Webinar 

Join Farm Credit East for a webinar on Thursday, July 23 from 11 a.m. to 12:30 p.m., that will present a top-to-bottom guide on preparing for Paycheck Protection Program (PPP) loan forgiveness.

Many Northeast businesses and employees have benefitted from loans approved through the PPP and are now focused on achieving maximum forgiveness of the loans. While the forgiveness process has not been finalized, businesses should start preparing so they are ready when lenders start taking forgiveness applications.

This webinar will review the key records and calculations for forgiveness, including:

• Payroll records in your reference period and during the forgiveness period
• Full-time equivalent calculations and how to avoid reduction penalties
• Rate-of-pay calculations
• The taxes that should (and shouldn’t) be included in your payroll expenses
• Eligible, non-payroll expenses and how they should be documented
• Available forgiveness timelines – 24 weeks vs. 8 weeks

Along with this review, consultants Keith Dickinson and Erin Pirro will discuss recent program developments. Agricultural businesses that received a PPP loan are encouraged to attend. Register for this free webinar at FarmCreditEast.com/Webinars.

The Black Farmer Fund

Creating Pathways to Land Access & Food Sovereignty for Black Communities — To learn more about this fund, sign up for the 7/21 webinar hosted by the Northeast Farmers of Color Land Trust. Registration opens July 14th. LEARN MORE HERE.

Partnership Pre-Proposals for Aging on the Farm

The Upper Midwest Agricultural Safety and Health Center (UMASH) is seeking pre-proposal applications for small partnership projects to address Aging on the Farm, ranging from $5,000 to $10,000. UMASH recently hosted two community forums to identify and discuss key issues related to aging in agricultural communities across the Upper Midwest. UMASH and the University of Minnesota Center for Healthy Aging and Innovation invite proposals that build upon the issues discussed at these community forums and address the challenge of aging in agricultural communities. Pre-proposals are due August 1, 2020. LEARN MORE HERE.

Farmers Advocating for Organic Grants

Farmers Advocating for Organic (FAFO) is a grant program funded by contributions from Organic Valley farmers. Grants are awarded to research, education, and advocacy projects that advance FAFO’s mission: to protect and promote the organic industry and the livelihood of organic farmers. FAFO is currently prioritizing projects that focus on benefitting family farmers who produce organic dairy, eggs, meat, produce, and grain/forage; organic soil health and biology; or strengthening CROPP Cooperative. Nonprofit organizations and academic/research institutions are eligible. One-time grants range from $5,000 to $50,000. Letters of interest are due by August 1, 2020. LEARN MORE HERE.

Pure Growth Project Community Garden Grant

Pure Farmland provides financial support through its Community Garden Grant to neighborhood gardens and eligible food projects where access to fresh produce and green spaces is limited. To be eligible, community gardens must serve at least 10 individual households and be open to and actively seek members or participants from their neighborhood or local community. The application deadline is July 31, 2020. LEARN MORE HERE.

Vermont Dairy Assistance Program – Farmer Financial Resources

A new Vermont COVID-19 Agriculture Assistance Program (VCAAP) will open on Friday, July 17th.  This first application is directed at dairy producers and processors who have experienced income loss, additional expenses, and market disruption as a result of the Coronavirus, and $25 million in federal Coronavirus Relief Funds will by distributed by VAAFM to qualified applicants. 4 webinars are scheduled to provide more information.

 

• Find more farmer financial resources including loan and grant information at https://www.beginningfarmers.org/funding-resources/

• Find tons of other useful farming resources by visiting https://www.beginningfarmers.org/additional-farming-resources/