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How many farmers got PPP loans?
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Posted 7/29/2020 09:39 (#8402669 - in reply to #8402369)
Subject: RE: How many farmers got PPP loans?

S.E. Iowa
If you farm as a corp.,partnership or LLC and file a form K-1 then essentially the owners are also employees. Use that form to assess your income. It most likely will look much, much different than most farmers schedule F. Mine did.

Money is still available I believe. Closes august 8 I think.

My local bank did PPP's for their customers. Many banks didn't want to "mess" with them. I don't understand that. I guess id be looking for a different bank if it cost me over 20,000.00Banks made money doing these but it required some effort and brains

Forgiveness is done by the bank you apply at I believe. Forms for forgiveness are available on line. Google it.

I would suggest getting your bank to help you. I don't know a lot as we hurried cause time and money was running out early on.
They have since extended it and changed some rules I think.

Good luck.
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