Rep. Dan Bishop (R-NC) has introduced a bill into Congress to expand the use of PPP loan funds for farmers. | Stock photo
Rep. Dan Bishop (R-NC) has introduced a bill into Congress to expand the use of PPP loan funds for farmers. | Stock photo
Rep. Dan Bishop (R-NC) proposed congressional legislation that would broaden the ability of farmers to use Paycheck Protection Program loans for renting essential equipment.
In July 16 statement about the legislation on Bishop’s website, the Republican congressman noted the impact the economic crisis created by restrictions related to the COVID-19 pandemic has had on farmers in the state.
“Farmers across North Carolina have been hit hard by the coronavirus pandemic yet continue to provide food for our communities,” Bishop said in the statement. “By expanding the use of PPP loans, farmers can use the funds for what they need to continue day-to-day operations that all Americans rely on.”
The goal of Bishop’s legislation is to extend the loan forgiveness available to other small businesses so that farmers can qualify for expenses related to rental expenses, according to the release.
The entire text of the bill is posted on the Bishop’s website.
Alerts Sign-up