SBA / Treasury FAQ – 35. Are agricultural and other forms of cooperatives eligible to receive PPP loans?

Compliance > CARES Act
Q:  Are agricultural and other forms of cooperatives eligible to receive PPP loans?
 
A:   As long as other PPP eligibility requirements are met, small agricultural cooperatives and other cooperatives may receive PPP loans. The Economic Aid Act added housing cooperatives (as defined in section 216(b) of the Internal RevenueCode of 1986) that employ not more than 300 employees to the entities eligible for First Draw PPP Loans and Second Draw PPP Loans.
 
 

This Q&A was based on information contained in the Treasury Department’s March 12, 2021, version of “Paycheck Protection Program Loans, Frequently Asked Questions,” which is updated from time to time.  This CARES Act / SBA / PPP related issuance may be found here:  https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

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