Ag groups ask for PPP fix to help farm partnerships and LLC’s
Thirty-five agricultural organizations have jointly asked Congress to help farming partnerships and LLC’s take part in the Paycheck Protection Program.
The ag groups say the Small Business Administration misinterpreted part of the Economic Aid Act to exclude farm and ranch partnerships and LLC’s against the intent of Congress.
John Linder is President of the National Corn Growers Association. He tells Brownfield, “We at NCGA really appreciate the hard work they’ve put into it thus far. The opportunity may still lie, they may still administratively be able to fix this.”
Linder says the coalition is trying to find a fast fix because time is running out. “The program’s expiration is March 30th. Time is of the essence, so we’re really putting our best foot forward in trying to find the quickest path to correct something that I don’t think was fully intended to be a trap that caused disparagement between business practices.”
The coalition sent a letter to leaders in the U.S. House and Senate saying it is critical for all agricultural producers to have access to PPP funding regardless of their tax structure.