Agricultural businesses throughout Texas are now eligible to apply for U.S. Small Business Administration Economic Injury Disaster Loans (EIDL) for the first time in 30 years, as a result of legislation enacted by President Trump.
Agricultural businesses include those businesses engaged in the production of food and fiber, ranching, raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
The SBA will begin accepting new EIDL and EIDL Advance applications, on a limited basis only, in order to provide this unprecedented relief to U.S. agricultural businesses. The application is available at <www. SBA.gov/Disaster>.
At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received.
Also, SBA has resumed processing EIDL applications that were submitted before April 15. All applications are processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.
SBA made this programing decision in order to provide the greatest emergency funding relief to as many small businesses, private non-profits, and agricultural businesses as possible.
Together we will continue to get through this pandemic.
For more information or to apply, please visit: <www.sba. gov/Disaster>.
Justin Crossie is the regional administrator of the U.S. Small Business Administration’s South Central Region VI, serving, Louisiana, Arkansas, Texas, Oklahoma and New Mexico.