Like pretty much anything that happens in Washington DC, the Coronavirus Aid, Relief and Economic Security (CARES) Act had a mixed bag of results. On the positive side, it provided some help for citizens who were facing mounting bills and shrinking income; aid to small businesses; expanded unemployment insurance and more. On the downside, there was seemingly little oversight as to who was able to get money from the loan program. The Los Angeles Lakers received about $4.6 million through the Small Business Administration’s Paycheck Protection Program, for example.
Despite the notable flaws, some good has come to small meat processors. Agriculture or economic development departments in Kentucky, Iowa and Indiana have recently announced that funds were given to small meat businesses to help compensate for the business disruptions that COVID has created.