arrow_back Back to App

PPP Program Changes: More Support for Farmers and Sole Proprietors

This act makes it easier for farmers, ranchers, and sole proprietors to receive larger loans under the Paycheck Protection Program (PPP). It modifies how the maximum loan amount is calculated, allowing them to use gross income, which can increase available funds. The act applies retroactively to previously issued loans and establishes a process for recalculation for those previously excluded.
Key points
Farmers, ranchers, and sole proprietors can now apply for higher PPP loans by including gross income in their calculations.
The changes apply to loans already issued, meaning some may be eligible for recalculation and potentially more support.
The Small Business Administration (SBA) will create a special process for those previously unable to request a loan recalculation.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_2583
Sponsor: Rep. Hinson, Ashley [R-IA-1]
Process start date: 2021-04-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

PPP Equity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2583.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Farmers, ranchers, and sole proprietors can now apply for higher PPP loans by including gross income in their calculations.
  • The changes apply to loans already issued, meaning some may be eligible for recalculation and potentially more support.
  • The Small Business Administration (SBA) will create a special process for those previously unable to request a loan recalculation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hinson, Ashley [R-IA-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Agriculture