By Peggy Kirk Hall, director of agricultural law, Ohio State University Agricultural and Resource Law Program
We love blogging about agricultural law, but sometimes we don’t feel the need to interpret a law that one of our colleagues has already explained perfectly. Such is the case with the new Paycheck Protection Program recently enacted by Congress in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Our colleague Kristine Tidgren at Iowa State’s Center for Agricultural Law and Taxation has written an excellent explanation of the new loan program.
A few questions about the Paycheck Protection Program that Kristine answers in detail in her blog post are:
- Who’s eligible for the loans? Any small business concern, business concern, 501(c)(3) nonprofit, veterans’ organization or tribal business concern employing 500 or fewer employees and eligible self-employed individuals including independent contractors may apply for a loan. Farm businesses with less than 500 employees fit within these eligibility parameters.