An Overview of the Paycheck Protection Program (PPP) Loans and Implications for Agricultural Enterprise Recovery from COVID

PPP has been one of the largest economic stimulus programs in U.S. history. In 2020 and 2021, the SBA disbursed over $800 billion in Paycheck Protection Program (PPP) loans to help small businesses, including agricultural enterprises, keep their employees on payroll during the Covid-19 pandemic. Production agriculture received over 600,000 loans totaling $17 billion. The authors conducted interviews with PPP recipients and present some findings from those. The most recent data reveal challenges and opportunities for agricultural businesses, depending on their scale of operations and regional disparities. Community organizations working with small agriculture-related businesses need to be aware of various impacts while providing future assistance. This study was funded in part using Levin College Women’s Fund Award and EDA CARES Act Supplemental Award ID# ED20CHI3070034