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Originally Posted by displacedinMN
Buehler-We have this years first payment, waiting for second in Oct/Nov. Leases have to be negotiated and signed by Nov 1. Iowa laws.
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I would wait. Things can turn around before corn and beans come in.
Just a heads up, communicate what you’re doing and why. And that it won’t happen every time he gets a stroke of bad luck. You know your tenant better than I do. Just be clear about expectations.
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Originally Posted by Trivers
HEADS UP!!!
SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.
Notice: New Eligibility for Economic Injury Disaster Loan and Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.
The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic.
Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.
At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.
Eligible agricultural businesses may apply for the Loan Advance here.
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Thanks man. I’ve been busy getting fisted by the weather. Much appreciated.