Cotton Newsline: April 17, 2020

A key component of the CARES Act is a Small Business Administration (SBA) loan program called the Paycheck Protection Program. This program provides forgivable loans to small businesses to help cover their payroll costs during the ongoing COVID-19 epidemic. Farms and other agribusinesses are eligible for the program if they have 500 or less employees. Unfortunately, the $349 billion dollar amount Congress allocated for the program has been exhausted. Reece Langley, Vice President of Washington Operations for the National Cotton Council, joins us to explain what farmers and others involved in agribusiness can expect in the coming weeks when it comes to more assistance from the federal government.