The following Covid-19 Business Disruption Resources are posted below: Federal Emergency Loan Programs, USDA Direct Payment Programs, VT Unemployment, VT Grants and Business Assistance.
Federal Emergency Loan Programs
SBA Paycheck Protection Program (PPP) webpage: Contact your local bank or lender for information on how to submit an application. Farms, Forest and Maple businesses are eligible for PPP. PPP is a forgivable loan if funds are spend according to the program criteria.
Economic Injury Disaster Loans (EIDL) webpage: [“Farms” will be eligible for the EIDL program in the second relief package. We expect the SBA online application eligibility section to reflect that chance once the program re-opens]. A borrower applying for EIDL can request an advance on the loan of up to $10,000 from the Small Business Administration (SBA). Applications are made online with the SBA directly. EIDL “advance” amounts are based on $1,000 per employee, thus a business with 10 or more employees can apply for the $10k max. The actual EIDL Loan can be for up to $2M and has an interest rate of 3.75%
USDA Direct Payment Programs
Applications will open May 26th! Applications will be accepted through Aug. 28, 2020. Producers of all eligible commodities will apply through their local FSA office.
Additional program details by commodity and a video preview of the payment calculator can be found here: https://www.farmers.gov/cfap
- Dairy Eligibility: CFAP payments are eligible to all dairy operations with milk production in January, February, and/or March 2020. Any dumped milk production during the months of January, February, and March 2020 is eligible for assistance. However, any milk production that is not subject to price risk for any time during January, February and/or March is ineligible.
- CFAP Payments for Dairy: For dairy, a single payment will be made based on a producer’s certification of milk production for the first quarter of calendar year 2020 multiplied by $4.71 per hundred weight. The second part of the payment is based a national adjustment to each producer’s production in the first quarter multiplied by $1.47 per hundred weight.
- Pandemic Unemployment Assistance (PUA). The Vermont Department of Labor is now set-up to accept unemployment claims for “self employed” business owners under PUA. PUA website for Self Employed and online application page
- You Tube instructional video for VT PUA application preparation
- Working Lands Enterprise Initiative: $5k-$25k grants. Deadline May 31st Full Grant Requests for Applications HERE Applying organizations must be able to clearly demonstrate negative business impacts due to COVID-19. Eligible proposals will focus on business response, shifting marketing strategies, or other activities that may improve business recovery. Project activities eligible for funding include: Market development, Value-added production, Research and development, Operations logistics: Growth strategy.
- NOFA-VT has launched our Farmer COVID Resilience Grants! We are getting the word out this week and the application will open tomorrow at noon (that’s Friday, May 15th at 12:00pm). Please circulate to your networks/clients that qualify to apply.
- Center for Agricultural Economies: CAE announced micro-grants for marketing! The program is focused on farms that process value-added products. The Microgrants Program for Market Development & Sales Innovation is up and running. CAE currently has funding for approximately 20 grants but anticipate more funding to extend this. Grants are for a maximum of $500 ($1000 if multiple farm businesses are benefiting). Grant Application form HERE
- UVM Ext Ag Business Educators are available for consultation related to business interruption. See our statewide educator contact list here. Farm and forest product business owners interested in more in depth business coaching and business plan development can contact our Farm Viability or Forest Business programs for more information. Visit the Farm Viability (Betsy.Miller@uvm..edu) or Forest Business (Christopher.Lindgren@uvm.edu) pages for contact information.
- UVM New Farmer Program: Resources, tools and course calendars for beginning farmers.
- Vermont Farm Viability Program Quick Coaching: VHCB is pairing requests with the best adviser from the statewide business planning network. Complete the Intake Form with VHCB.
- Land For Good: Farmers and farmland owners in New England who are impacted by COVID-19 can receive FREE, in-depth technical assistance to access farmland, draft leases and other tenure agreements, improve landowner relations, or plan for their farm succession or transfer. Submit their online Inquiry Form or call 603-357-1600