As the ag economy struggles, the Nebraska Farm Bureau is urging the Small Business Administration to modify the Paycheck Protection Program to allow more farm and ranch businesses to utilize loan assistance.
NFB President Steve Nelson said a relatively small out of the funds were distributed to agriculture business. Only about 1.3 percent of the loans went to ag but ag powers about 5 percent of the country’s GDP.
Nelson called the agriculture usage of the program lower than expected.
“We are in some really difficult times, while farmers and ranchers are doing everything that they can on the front end on the front end of the food chain,” Nelson said. “What we are talking about here is trying to make this program more usable to a broader section of the farming population.”
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