Verified FBN Member (SD)

Marketing

Are there any farmers out there looking into applying for a loan with the PPP stimulus package?


35


Verified FBN Member (ND)

Don't qualify because we had a loss last year. Couldn't combine 1/3 of our crops. Then the genius government come up with a new program wh...

More

3


Verified FBN Member (IA)

Does anyone have updates on this given that it has been 2 months? mainly; as a sole proprietor can I apply and use "family living" payments...

More

1


Verified FBN Member (AR)

Yes. Have applied for and received loan. Helps keep two employees paid. My pay is not a factor since I take a draw and not a guaranteed paym...

More

Verified FBN Member

I am sole owner of farm pay my daughter-in - law for spring and fall work do I qualify

1

Verified FBN Member (IL)

Maybe, check with the bank or Farm Credit. All the loans are processed through your lending institution. If she's W2 than almost definitely....

More

Verified FBN Member (WI)

When I looked at the program on the website, one of the questions was if you were a farmer. There were like five questions that would disqua...

More

3

Verified FBN Member (NE)

(edited)

Farming is disqualified from the EIDL grant but not the PPP loan.

Verified FBN Member (OK)

One program disqualifies production Ag. You are eligible for payroll protection.

Verified FBN Member (PA)

That was changed


Verified FBN Member (MN)

I tried, but my banker told me I didn't qualify. No employees, basic setup, pay myself but nothing formal.

1

Verified FBN Member (ND)

Try a Farm Credit. I think they will let you run it.


Verified FBN Member (CO)

It’s based on the 2019 year, as well as 2 differing periods in the 2019 year...


Verified FBN Member (ND)

Does anyone know how to claim self employment income? I know it is capped at $100k annual income, but how do you claim forgiveness? Do you n...

More

3

Verified FBN Member (NY)

That’s how we feel. Details are sparse and we figure the government is going to come out too late with them, like when it’s time to pay back...

More

Verified FBN Member (MS)

We are being told if you have H2A workers you can’t use the income on the loan?? Does anyone know anything about this ??

2

Verified FBN Member (ND)

no H2A

Verified FBN Member (OK)

Employees must be US citizens to qualify.


Verified FBN Member (KS)

I took over my in-laws family farm in January this year. Established an LLC to operate under, and have one other full time employee. I have ...

More

1


Verified FBN Member (KY)

We are doing it. Sending paperwork in tomorrow


Verified FBN Member (KS)

I am a loan officer in western Kansas and we are accepting the PPP loans for farmers regardless of number of employees. The farmers are usin...

More

5

Verified FBN Member (ND)

Do you know if anyone in Ag has received payment yet?

Verified FBN Member (OK)

It's based on payroll, not income

Verified FBN Member (KS)

What if I had a loss last year

Verified FBN Member (CO)

No you cannot. The lease expenses apply to the small business loan, which is different than the payroll loan. Ag not allowed to participat...

More
Verified FBN Member (SD)

Do you think we can use cash rent? We paid a lot of cash rent March 1st. Can I use those figures?


Verified FBN Member (OK)

(edited)

Why wouldn't you? farmers have been hit hard. The payroll portion will be forgiven. You will help your banker by stimulating his economy. I ...

More

2

Verified FBN Member (OK)

No

Verified FBN Member (NE)

As of now we have no information on any farm program payments, if there will be any. But do you have any concern that it will affect your el...

More

Verified FBN Member (PA)

We have submitted our application and are waiting on approval. If you have employees and or pay yourself by W2, it is something you should r...

More

1

Verified FBN Member (ND)

Totally agree. I have advised some of my tax clients to apply.


Verified FBN Member (IL)

We are. The bank sent us the paperwork but said it was really backed up. We are dairy.


Verified FBN Member (SD)

U talking about the one with *** ?

1

Verified FBN Member (SD)

yes

Join the Community Forum. It’s Free.

Our FBN ® Community Forum is exclusive to . To become a Verified Farmer, sign up for your free account and gain access to our secure online farming community.