Haven’t applied for EIDL yet? WHAT ARE YOU WAITING FOR?!

5/8/20 — EIDL Update

By Josh Roe, Kansas Corn’s VP of Market Development and Public Policy and a Kansas farmer

“It took me less than 10 minutes to apply for the EIDL program on the SBA website and I received my funds the next day.” — Josh Roe

I know that we are all weary from the completely new set of acronyms from the SBA and USDA (There is another one!) and if the applications are open/closed, does agriculture qualify? Do I have to pay it back? Trust me, I’m right there with you!

So, I’m not going to go into a barrage of alphabet soup or send you a bunch of links, I’m simply going to tell you to take 10 minutes and apply for the EIDL program!

Here are step by step instructions:

  1. Have your 2019 tax return (preferably) or know your gross income for the previous 12 months (I simply used by Schedule F for this).
  2. Go to this website: https://covid19relief.sba.gov/#/
  3. Fill in the required information, if you are applying via Schedule F, you only need lines 9, 33 and 34.
  4. In my case, and at least six other people I have talked to, the funds were electronically deposited within 24 hours.

As of now, ONLY agricultural businesses may apply, so PLEASE take advantage of this golden opportunity. Despite this being a busy time, its well worth it. As a reminder, you are eligible to receive a loan advance of $1,000 per employee, up to $10,000, THIS ADVANCE DOES NOT NEED TO BE REPAID.