By Corey Clark, Michigan State University Extension
The Paycheck Protection Program (PPP) was created in the CARES Act in 2020 to provide forgivable loans to small businesses, including farms. Much has been made of the provisions that focus on payroll expenses. However, PPP loans are also available to self-employed farmers based on gross income. This was one of several updates provided by the Consolidated Appropriations ACT (CAA) in December of 2020.