USDA Approves $1.2B for Farmers to Families Food Box Program
The U.S. Department of Agriculture (USDA) has approved $1.2 billion in contracts to support American producers and communities in need through the USDA Farmers to Families Food Box Program, which is part of the Coronavirus Food Assistance Program that was developed to help farmers, ranchers, and consumers in response to the COVID-19 national emergency.
Demand for Small-Business Loans Cools
When the federal government relaunched its small business aid program on April 27 with an additional $310 billion, lenders and business advocates warned the money would dry up within a few days. Nearly two weeks later, about 40% of the money remains available, according to figures released by the Small Business Administration, even as small businesses continue to suffer from the fallout of the coronavirus pandemic.
The Saving Our Street Act, a $125B Plan to Help the Smallest Businesses
A new bill from Sen. Kamala Harris (D-CA) and Rep. Ayanna Pressley (D-MA) aims to help fix the disparity of small businesses accessing capital: The Saving Our Street Act would allocate grants of up to $250,000 to businesses that have fewer than 10 employees. The SOS Act designates the majority of its grants — 75 percent — to business and nonprofit owners from underrepresented groups, such as people of color, women, and veterans, which were less likely to benefit from existing loan options as well.
Small, Medium-Sized Farmers on Edge While Trade War Bailout Money Goes Elsewhere
Coronavirus is another blow to farmers who have already seen their paychecks dwindle because of the trade war with China. Washington is providing multibillion-dollar bailouts for both crises, but is the money going to the right people?
Top 15 State and City Funding Programs Helping Small Businesses Survive
As the coronavirus pandemic continues to disrupt the lives and operations of millions of American business owners, more state and local governments are offering funding programs to help companies stay afloat. These resources are independent of the federal loans and grants for small businesses offered through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
FEED Act Introduced to Help Restaurants Deliver Meals to the Hungry
A bipartisan group of lawmakers introduced a bill aimed at helping restaurants and feeding vulnerable populations during the coronavirus pandemic. The FEMA Empowering Essential Deliveries (FEED) Act would have the federal government pay 100 percent of the cost for state and local governments to work with restaurants and nonprofits to prepare meals for populations including seniors and underprivileged children.
Agricultural Operations Now Eligible for SBA Loans Up to $2M
As the pandemic shifts longstanding food supply chains, many agriculture businesses face difficulty shifting customer bases from restaurants and institutions to individual consumers, and many agricultural operations enjoyed little relief from the CARES Act. But in this latest round of changes to the CARES Act, qualifying small agricultural operations can finally access EIDL loans up to $2M.
USDA Announces Coronavirus Food Assistance Program
USDA announced the Coronavirus Food Assistance Program. This new USDA program will take several actions to assist farmers, ranchers, and consumers in response to the COVID-19 national emergency. President Trump directed USDA to craft this $19 billion immediate relief program to provide critical support to our farmers and ranchers, maintain the integrity of our food supply chain, and ensure every American continues to receive and have access to the food they need.
|