Hagedorn Issues Guidance, Informs Constituents on Paycheck Protection Program
BLUE EARTH, Minn. – Rep. Jim Hagedorn (MN-01) today clarified who is eligible for the Paycheck Protection Program (PPP), which was signed into law last week in Phase 3 of the COVID-19 relief package. Starting this Friday, small business employers, sole proprietors, independent contractors, non-profits, veteran organizations and agricultural producers can apply to the $349 billion Payment Protection Program.
The PPP provides assistance for payroll, benefits, mortgage interest, rent and utilities including loans of up to $10 million. Average payroll and other costs of up to eight weeks will be forgiven if the business retains its employees and their salary levels. Eligibility for the program includes small businesses with fewer than 500 employees.
“This program provides immediate support to help working families, entrepreneurs, and farmers keep their paychecks during this difficult time. I encourage all employers to explore the eligibility and benefits that the Paycheck Protection Program could provide for you and your employees. Please do not hesitate to contact my office if you have any questions relating to the program and its application, other provisions in the CARES Act or the overall response to the coronavirus pandemic,” said Hagedorn.
Additional information about PPP eligibility and applications can be found by visiting the agriculture section of Congressman Hagedorn’s Coronavirus Information page on his website.
Jim Hagedorn was elected in 2018 to represent Minnesota’s First District in the U.S. House of Representatives. He grew up on his family’s grain and livestock farm near Truman. Jim’s father, former U.S. Congressman Tom Hagedorn (MN-02), grandfather, and great-grandfather were all southern Minnesota farmers. Jim currently resides in the rural farming community of Blue Earth. Hagedorn brings policy experience to Capitol Hill from time spent as a congressional aide to former U.S. Congressman Arlan Stangeland (MN-07) and a congressional relations officer for two non-partisan U.S. Department of the Treasury agencies. Hagedorn serves on the House Committees on Agriculture and Small Business to promote farming, Main Street enterprises and southern Minnesota’s way of life.