Representing the needs of aquaculture and the environment

Posts by Bob Rheault

SBA Streamlines Loan Forgiveness Process

Thanks to Paul Zajicek at the National Aquaculture Association for sharing this important news: The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, created a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s…

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USDA Conference Call on CFAP 2 today at 4pm Eastern

Please join USDA’s Farm Production and Conservation Under Secretary Bill Northey and Farm Service Agency Associate Administrator Steve Peterson on Monday, September 21, 4:00 p.m. (Eastern) for a stakeholder call on the Coronavirus Food Assistance Program (CFAP 2). USDA is implementing a second sign up of the CFAP for agricultural providers who continue to face…

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How to Apply for CFAP 2 Relief

Applications for phase 2 of the Coronavirus Food Assistance Program (CFAP 2) are now being accepted through Dec. 11, 2020. Today (Monday, Sept. 21, 2020) USDA is hosting a conference call explaining the program at 4:00 pm Eastern. Details are in this blog post. You have several ways of applying: Online: If you are applying…

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Relief for Shellfish Farmers: CFAP 2

USDA announced today that it will provide an additional $14 billion for agricultural producers facing market disruptions and associated costs due to COVID-19. Unlike the first go-round of Coronavirus Food Assistance Program (CFAP) funding, this time shellfish farmers are eligible for relief. Signup for CFAP 2 will begin September 21 and run through December 11,…

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Paycheck Protection Program Flexibility Act

The SBA has made several changes to the Paycheck Protection Program (PPP) to give applicants greater flexibility and make the program more workable, including extending the time and clarifying some of the terms for loan forgiveness. We still have not been able to determine if seed purchases would qualify as non-payroll expenses that might be…

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CFAP and Fisheries Disaster Funding

The USDA’s Coronavirus Food Assistance Program (CFAP) was formally rolled out in the Federal Register last week. We have finally received guidance that shellfish aquaculture will NOT be eligible to be considered for these funds, despite language in the Federal Register suggesting that “saltwater aquaculture” would be eligible. Despite not being eligible for CFAP relief…

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Impacts of COVID-19 on U.S. Mollusk Businesses

Many of our members participated in a survey last month to evaluate the economic impacts of the COVID-19 pandemic on our industry. Thanks to the hard work of Jonathan van Senten and Carole Engle (who did this work without financial support!), the results are in, and it’s not pretty. The mollusk-related summaries for the 1st…

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CARES Act Update

Paul Zajicek of the National Aquaculture Association shares the following: The Small Business Administration (SBA) programs keep evolving and it appears they are hearing that no one wants to assume debt with such an uncertain future. The CARES Act 7(a) lending program will go through qualified lenders and should help farmers in getting faster responses…

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Guide to the CARES Act

Staff working for Massachusetts Senator Ed Markey helpfully shared a link to a pdf entitled, Small Business’ Guide to the COVID-19 Economic Relief Package (aka the CARES Act). It includes information on Paycheck Protection Program loans, the Small Business Debt Relief Program, Economic Injury Disaster Loans and Emergency Economic Injury Grants, Small Business Counseling, Small…

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SBA Loans and Other News

It is a little overwhelming to deal with the flood of local, regional and national news and legislation coming out. We are doing our best to digest and process and pass along what we feel is accurate and helpful to our members. It is obviously a two-way street and we need to hear from members…

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