You're Invited!

 

We are pleased to partner with Michigan Food and Farming Systems (MIFFS) to host Senator Gary Peters as he provides an update on the federal response to COVID-19. Michigan farmers and their advocates are encouraged to attend, ask questions about the current stimulus package, and share hopes for future federal support. Senator Peters will review the CARES Act and its impact on farms and food business. Before the webinar, you are encouraged to read his letter co-written with Senator Stabenow to Secretary Perdue of the USDA expressing his views here.  Following his update, Sen. Peters will answer attendee-submitted questions. Please click here to submit questions by 8am on Thursday. Farmer Town Hall with Senator Gary Peters Friday, April 17, 2:30-3:15pm via Zoom RSVP to receive your unique log-in code or dial-in information

 

RSVP to the Webinar!

 

New to Zoom? Check out these FAQs here.   If you are wondering about the programs available read below and this describes the program you may be eligible if you have paid employees.

 

 

1. If you are farming and have paid employees (WITH PAPERWORK) you may be eligible for financial support during the COVID 19 quarantine. This act offers 2 programs for within this Act.
2. The program available to farmers is the PPP. IT is a forgivable loan to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and employee and compensation levels are maintained. Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs  
3. The PPP is first come first serve so if you are thinking of applying I would do it sooner than later.
4. First, you have to contact your bank to get in line for this, so reach out to them asap if interested, sometimes the link will be under their "loans" tab.  Not all banks are offering this, many are in the process of applying to become approved lenders, reach out to another bank if needed. (US Bank and OnPoint do).
5. This form reflects the information that will be collected  (the information will be collected electronically)https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf.
6. Provide payroll documentation to lenders. Visit your bank to see if they are accepting applications.
7. We continue to hear that many lenders still don't have critical info from SBA to start processing loans, and apparently some SBA field staff are still telling farmers they aren't eligible. We are trying to get SBA to issue clarity on this but if you have heard from your SBA lender that farmers are NOT eligible for PPP, please let me know (and send me name of lender and reason as well). 

 

Additional PPP resources:

·           PPP Borrowers Information Sheet

·          General PPP Information

·           PPP Sample Loan Application

 

The Economic Injury Disaster Loans (EIDL) for farmers is another issue. Currently, Small Business Administration (SBA)  maintains that farms and nurseries are not eligible for SBA EIDL. Organizations are in contact with legislatures to advocate change for eligibility. We will keep you posted if this position changes so farmers can also apply to this fund.

 

Sending thoughts of health and safety, 

Vicki Morrone

 

 

 

 

Join us on THIS Friday at 2:30

You're Invited! Michigan Food and Farming Systems (MIFFS)  is pleased to partner with Taste the Local Difference to host Senator Gary Peters as he provides an update on the federal response to COVID-19. Michigan farmers and their advocates are encouraged to attend, ask questions about the current stimulus package, and share hopes for future federal support.   Senator Peters will review the CARES Act and its impact on farms and food business. Before the webinar, you are encouraged to read his letter co-written with Senator Stabenow to Secretary Perdue of the USDA expressing his views here.   Following his update, Sen. Peters will answer attendee-submitted questions. Please click here to submit questions by 8am on Thursday.   Senator Peters Q&A Session with Small Farmers Friday, April 17, 2:30-3:15pm via Zoom   RSVP to the Webinar!   RSVP to receive your unique log-in code or dial-in information New to Zoom?  Check out these FAQs here.

 

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