Farm Credit East, the Northeast’s largest agricultural lender, recently awarded $49,500 in higher education scholarships to 32 student recipients. Farm Credit East’s scholarship program supports students with diverse career aspirations in agriculture, commercial fishing, forest products and related fields from across the association’s seven-state territory.
For those agricultural producers who received Paycheck Protection Program (PPP) funding, Farm Credit East is hosting weekly question and answer sessions to prepare producers to apply for loan forgiveness. In addition, each session provides updates on the most recent guidance from the Small Business Administration (SBA).
In light of COVID-19’s impact on Northeast agricultural businesses, Farm Credit East’s Board of Directors recently approved the distribution of an advance payment on 2020 patronage dividends to provide members with additional liquidity and cash flow this summer.