Recently we received some updated information regarding PPP information for farmers on the interplay between the PPP and USDA programs. See Q&A below.

Updated Q/A’s related to PPP:
Q:  If I receive funds from SBA’s Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) program, will I be ineligible for USDA’s forthcoming Coronavirus Food Assistance Program (CFAP)?
A:  Participation in SBA’s PPP or EIDL program does not impact producer eligibility for USDA’s forthcoming CFAP.  There is no linkage between the two programs.

Q:  If I receive funds from SBA’s Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) program, will I be ineligible for USDA programs?
A:  Participation in SBA’s PPP or EIDL program does not impact producer eligibility for any USDA farm program.  The PPP duplicate benefit provision does not have an impact on FSA farm programs or farm loan programs.

 

 

Please email your CPA if you have any questions regarding this information.