“Why should I apply for a loan when I can get a direct payment from FSA through CFAP? What if my PPP loan isn’t forgiven? Where should I go for the most up to date information on these programs?”
Andrew Carty, Director of the Economic Development Division for the Indiana State Dept. of Agriculture, says those questions and many more are answered on a webinar that was hosted by ISDA, the Indiana Small Business Development Center, First Farmers Bank & Trust, and K·Coe Isom on Friday answered those questions and more about COVID-19 funding available to farmers and agribusinesses.
Carty says Amie Osborn, Vice President Commercial & Ag Lender for First Farmers Bank & Trust, discussed the application process for the Paycheck Protection Program, or PPP.
“Those loans go through a lender and she’s done tons of them. So, she’s going to talk about what she has seen work what hasn’t worked from an eligibility application process.”
The program also features Kala Jenkins from K·Coe Isom, a food and agriculture consulting and accounting firm.
“Say you got funding; how do you manage that? Specifically for PPP. How do you manage it correctly to ensure that when you put in that loan forgiveness application it goes through? What records do you need to keep, etc.”
Monty Henderson, Regional Director for the Hoosier Heartland Indiana Small Business Development Center, will discuss the Economic Injury Disaster Loans that are still available.
“Monty is going to be going through the eligibility for those, the application process for those. He is a producer himself, a farmer, and has a really unique experience and insight in that he’s received some of these loan resources personally and will be able to speak to that.”
Carty says significant funding is still available for agriculture and they hope this webinar shines a light on options available for producers.