Additional PPP Funding Announced

ADDITIONAL PPP FUNDING ANNOUNCED

Following approval of an additional $310 Billion in funding for the SBA Paycheck Protection Program (PPP), American AgCredit is accepting applications from customers and we are here to support you through your application process. We urge customers to apply as soon as possible, as these funds are limited and in high demand.

Please note: Due to the recent SBA rule change on Partnership Income and Seasonal Employers, PPP loan recipients may be eligible for an increased loan amount. If you previously applied for a PPP loan through American AgCredit and think this may apply to you, please contact your Relationship Manager. Your Relationship Manager will provide the information you need in order to amend your application. Please note that the deadline for completing this entire process, including signing documentation, is May 29, 2020.

WHAT IS AMERICAN AGCREDIT’S ROLE IN THE PROGRAM?

Like all banks, our role in the PPP is to help you submit your application for the SBA’s debt forgiveness program. Our online application portal and the supporting materials we have developed will help guide you through the process.

WHAT CAN I DO TO PREPARE FOR THE APPLICATION PROCESS?

We have loaded several resources to help you prepare for applying, including a loan amount calculation spreadsheet, which is required for the application. Click here to go to our Preparing to Apply page.

ADDITIONAL RESOURCES

Visit the following links for more resources and information related to COVID-19.

SBA – Small Business Guidance and Loan Resources

SBA – Coronavirus Relief Options

U.S. Department of the Treasury – Assistance for Small Businesses

U.S. Chamber of Commerce – Emergency Loans Small Business Guide and Checklist

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