Deadline: 6/22/2020

Amount: unspecified

Website: https://www.rd.usda.gov/programs-services/business-and-industry-cares-act-program

Description:

The purpose of this program is to help rural businesses meet their working capital needs during the coronavirus pandemic through the provision of loan guarantees. The funding agency seeks to ensure that rural agricultural producers are able to gain access to much-needed capital during the COVID-19 public health emergency.

Consistent with the purposes of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the program will provide guaranteed loans to rural businesses in response to the economic conditions associated with the coronavirus pandemic. Loans must be used as working capital to prevent, prepare for, or respond to the effects of the pandemic.

Loan proceeds may be used only to support facilities and business operations, including certain agricultural producers in rural areas that were in operation on February 15, 2020.

Eligible Applicants:

Private Sector