An overview of the Paycheck Protection Program (PPP) loans and implications for agricultural enterprise recovery from COVID

3Citations
Citations of this article
9Readers
Mendeley users who have this article in their library.

Abstract

In this policy and practice brief, we analyze the U.S. Paycheck Protection Program (PPP). The PPP provided loans to support businesses during the COVID-19 pandemic. Some businesses received timely relief from the PPP loans, while some were not able to acquire assistance. Production agriculture received 617,128 PPP loans totaling $17 billion.1 The reach of PPP loans across the country was broad. In 80% of U.S. zip codes, at least one farm received a PPP loan. The average size of the loan in agriculture ($27,744) was substantially smaller than the national average ($74,156). The authors conducted interviews with PPP recipients and present some findings from those. The most recent data reveal challenges and opportunities for agricultural businesses, depending on their scale of operations and regional disparities. Community organizations working with small agriculture-related businesses need to be aware of various impacts while providing future assistance.

Cite

CITATION STYLE

APA

Demko, I., Sant’anna, A. C., & Liang, K. (2021). An overview of the Paycheck Protection Program (PPP) loans and implications for agricultural enterprise recovery from COVID. Journal of Agriculture, Food Systems, and Community Development, 11(1), 201–208. https://doi.org/10.5304/jafscd.2021.111.003

Register to see more suggestions

Mendeley helps you to discover research relevant for your work.

Already have an account?

Save time finding and organizing research with Mendeley

Sign up for free