Financial

SBA Relief Still Available to Ohio Small Businesses and Private Nonprofits Affected by September Drought

Deadline to apply for economic injury loans approaching

ATLANTA—The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Ohio of the June 2 deadline to apply for low-interest federal disaster loans to offset economic losses caused by the drought beginning Sept. 24, 2024.
The disaster declaration covers the Ohio counties of Adams, Brown, Butler, Clermont, Clinton, Coshocton, Guernsey, Hamilton, Highland, Holmes, Knox, Licking, Montgomery, Muskingum, Pike, Preble, Scioto, Tuscarawas and Warren and Dearborn, Franklin, and Union in Indiana as well as Boone, Bracken, Campbell, Kenton, Lewis, Mason, and Pendleton in Kentucky.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster, even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

To apply online, visit sba.gov/disaster. For more information on SBA, applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov.

Farm Office Live

OSU Extension will offer a Farm Office Live webinar on Friday, April 25, at 10:00 a.m. Farm Office Live is a monthly webinar of updates and outlooks on legal, economic, and farm management issues that affect Ohio agriculture.

Our featured guest this month is Dr. Margaret Jodlowski, Assistant Professor in the Department of Agricultural, Environmental, and Development Economics, who will discuss farm labor issues with us.  Our remaining agenda features the Farm Office team addressing these topics:

  • Strategies for Developing the Next Leader of Your Farm Operation – David Marrison, Farm Management Field Specialist
  • Crop Profit Outlook – Barry Ward, Production Business Management Leader
  • Farm Business Analysis Update – Clint Schroeder, Farm Business Analysis Program Manager
  • State and Federal Legislative Update – Peggy Hall, Agricultural & Resource Law Program Director
  • New Laws: Paystub Protection Act and Operation of Drones – Jeff Lewis, Agricultural & Resource Law/Tax Schools Attorney
  • Tax Update: Are Avian Flu Indemnifications Exempt? – Barry Ward and Jeff Lewis
  • Upcoming Events and Deadlines – David Marrison

Join in for this free webinar by registering at farmoffice.osu.edu/farmofficelive, where replays of previous webinars are also available.

OSU Extension offering virtual Farm Transition and Estate Planning Course in February

If you and your family are grappling with the critical issue of transitioning farm operations and farm assets to the next generation, OSU Extension is here to help. Producers are encouraged to attend a four-evening virtual “Planning for the Future of Your Farm” workshop on February 3, 10, 17, and 24, 2025, from 6:30 to 8:00 p.m. via Zoom.

This workshop challenges farm families to actively plan for the future of the farm business. Learn how to have crucial conversations about your farm’s future and better understand the strategies and tools that can help you transfer your ffarm’sownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm. The teaching faculty for the workshop are David Marrison, an OSU Extension Farm Management Field Specialist, and Robert Moore, an attorney for the OSU Agricultural & Resource Law Program.

Pre-registration is required so that a packet of program materials can be mailed to participating families in advance. Electronic copies of the course materials will also be available to all participants. The registration fee is $99 per farm family. Register by January 24, 2025, to receive course materials in time. Register at go.osu.edu/successionregistration. If you have questions about the workshop, do not hesitate to contact David Marrison at marrison.2@osu.edu or 740-722-6073.

Registration Open for 2025 East Ohio Women in Agriculture Conference

Hello, Women in Agriculture!

Registration is now open for the 2025 East Ohio Women in Agriculture Conference! This is a very special year as we celebrate our 10th year together with our biggest conference yet!

We’d love to see you at this year’s conference on Friday, March 21 from 9:00 am – 4:00 pm at Shisler Event Center on The Ohio State University’s Wooster Campus, 1880 Madison Avenue, Wooster, OH 44691. Registration information can be found at: go.osu.edu/eowiareg25

We are thrilled to have international speaker, author, and farm coach, Elaine Froese, at our conference this spring. She’s on a mission to guide farm families, across North America, to get unstuck, communicate better, find harmony through understanding, and secure a profitable farm legacy. Elaine is traveling from her home farm in Manitoba, Canada to speak with us! She will share a special keynote about Living an Intentional Life, will teach a breakout session to help tackle tough family conversations, and will have Coach on Call individual sessions available throughout the day. Every participant will also get a copy of Elaine’s book, “Farming’s In-Law Factor.” Hear more from Elaine here:

This year’s program will feature 24 break-out sessions in 6 tracks including: Plants, Animals, Business & Marketing, Home & Family,  Special Interest, and Personal Development. These informative and interactive sessions are presented by Ohio State University Extension educators, farmers, industry professionals, and partner agencies.

Learn about sponsorship opportunities at go.osu.edu/eowiasponsor25 or contact Emily Marrison with questions about sponsorship at 740-622-2265 or marrison.12@osu.edu .

We can’t wait to see you there!

 

East Ohio Women in Agriculture Team

Rebecca Davis, Family and Consumer Sciences Educator, Tuscarawas County
Corinna Gromley, Family and Consumer Sciences Educator, Carroll County
Chris Kendle, 4-H Youth Development Educator, Tuscarawas County
Brett Kinzel, Agriculture and Natural Resources Educator, Coshocton County
Emily Marrison, Family and Consumer Sciences Educator, Coshocton County
Heather Neikirk, Agriculture and Natural Resources Educator, Stark County
Kate Shumaker, Family and Consumer Sciences Educator, Holmes County
Sandy Trushel, Agriculture and Natural Resources Educator, Carroll County

 

2025 Farm Office Live Winter Series

The farm office team is excited to release the dates for our 2025 Farm Office Live winter series and invites you to put a placeholder on your calendars for these events. The webinars will be held on Fridays from 10:00 a.m. to 12:00 noon on:

  • January 17
  • February 21
  • March 28 and
  • April 25

You can sign up for these webinars (and find past recordings) at: https://farmoffice.osu.edu/farmofficelive

Below are details for the tentative agenda for the January 17, 2025 edition

    • Legislative Round-Up
    • Farm Business Analysis Program Update
    • Long-Term Care Update
    • Quarterly Fertilizer Update
    • Crop Input Outlook
    • Livestock Outlook
    • 1099 Reminders
    • Farm Policy & Farm Bill
    • Winter Program Update