PPP Loans Net Positive for Rural Communities
The effects of the Paycheck Protection Program continue to show positive results in rural communities according to data recently released by the American Bankers Association.
Tag: Paycheck Protection Program
Demand for Farm Loans Down as Profitability Increases
According to the 2021 Agricultural Lenders Survey results recently released by the American Bankers Association and Farmer Mac, farm profitability is improving.
Farmers and Ranchers Claim $6 Billion in PPP Loans
According to the Economic Research Service, 65 percent of Paycheck Protection Program loans that went to agriculture were to row crop operations and the remaining 35 percent was disbursed to livestock operations.
California and Iowa Largest Recipients of Ag Assistance
The California agricultural industry was the top beneficiary of the federal government’s response to the coronavirus pandemic according to the latest from the Economic Research Service.
2020 Government Payments Led to Improved Farmer Profitability
Farm loan demand remained muted at commercial banks in the first quarter of 2021.
Congress Extends PPP But Program Funds Running Low
For many small and rural businesses, the Paycheck Protection Program authorized last year by Congress and administered through the Small Business Administration provided a lifeline in a time of nationwide lockdowns.
Congress to Consider True Bipartisan Issue Soon: Infrastructure
Speaking virtually to the American Bankers Association’s Washington Summit this week, West Virginia Senator Joe Manchin praised bankers for their work on the Paycheck Protection Program
Smaller Farmers and Ranchers Find New PPP Opportunities
The Paycheck Protection Program, authorized originally in the 2020 CARES Act, was reauthorized recently to re-appropriate the unused funds from the first round.
Revised Rules for PPP Stand to Benefit Agriculture
With the passage of the Consolidated Appropriations Act of 2021, Congress reauthorized the Paycheck Protection Program (PPP) and provided new rules related to agriculture.
Congress Passes Economic Relief Package, Agriculture Weighs In
Agricultural groups are reacting to the passage of an economic relief package by Congress this week.
SBA Announces $38 Billion in PPP Loans Forgiven
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll and was part of the CARES program passed by Congress in response to the coronavirus economic shutdown.
IRS Clarifies How PPP Recipients Approach Expense Deductions
The Internal Revenue Service has issued a ruling that borrowers expecting Paycheck Protection Program loan forgiveness application approval must disallow a deduction for qualified 2020 expenses in 2020 tax returns.
PPP Loans One Step Closer to Being Forgiven
As small businesses and agricultural operations continue to struggle with the effects of a global economic shutdown, those who accepted loans through the government’s Paycheck Protection Program have been waiting for weeks to hear whether those loans would be forgiven.
Bankers Looking for IRS Clarification on PPP Reporting
As Congress considers another round of stimulus and relief for businesses suffering through the COVID-19 shutdown, the American Bankers Association is asking legislators to make a change in the tax code.
Congress Working Toward Another Round of Financial Assistance
While members of the House are back home for district work this week, members of the Senate have been working towards another round of COVID-19 assistance.