LANSING, Mich — Michigan farmers are getting some financial help amid the COVID-19 pandemic.
Michigan food and agriculture companies are now eligible for the U.S. Small Business Administration’s (SBA) Economic Injury Disaster Loan and EIDL advance programs, according to the Michigan Department of Agriculture and Rural Development.
Agricultural businesses include those involved in the legal production of food and fiber, ranching and raising aquaculture and livestock, along with other agriculture related industries. These businesses can now apply for loans if they have 500 employees or less.
“Small businesses drive the economies of our communities, and we understand that farmers and agricultural businesses are facing unprecedented challenges in the face of COVID-19,” said Mark A. Burton, CEO of the Michigan Economic Development Corporation.
The EIDL loans will provide support for small business that are experiencing loss of revenue during this time.
The Michigan Department of Agricultural and Rural Development encourages qualified Michigan agriculture businesses with less than 500 employees to prepare financial information and apply on the SBA website.
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