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How many farmers got PPP loans?
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NE Ridger
Posted 7/29/2020 08:45 (#8402564 - in reply to #8402553)
Subject: RE: How many farmers got PPP loans?

EC Nebraska

sand85 - 7/29/2020 08:37

The real magic is in section 109 of the Senate's proposed HEALS Act where the Schedule F 'payroll' is redefined as gross receipts vs. net profit.  That means anyone who farms more than about 120 acres of corn/soy gets a full $20,833 PPP loan.  Which will partially offset losses in commodity price crashes.

Seriously!?!  ***shaking my head***   And then how do you go about getting it forgiven?  

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