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

Iryna Demko, Claudia Sant’Anna, Ana and Kathleen Liang

Journal of Agriculture, Food Systems, and Community Development, 2021, vol. 11, issue 1

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. [1] All currencies are U.S. dollars.

Keywords: Agricultural Finance; Health Economics and Policy; Public Economics (search for similar items in EconPapers)
Date: 2021
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