IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 15 Jun 2021 | Removal date: open ended

Financial grant

On 15 June 2021, the U.S. Small Business Administration forgave a loan under the Payment Protection Programme (PPP) worth USD 10.1 million to Agrimark, Inc., a corporation located in Andover, MA.

According to the North American Industry Classification System, the company operates in the field of Fluid Milk Manufacturing.

The PPP is a programme introduced by the US federal government in response to the Covid-19 pandemic to provide liquidity of up to USD 10 million for affected businesses and help them keep their workforce. In this regard, the federal government provides unsecured loans of up to USD 10 million with terms ranging between 24 and 60 months. The scheme was open until 31 May 2021 and distributed 11.8 million loans worth USD 800 billion.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the financial aid granted here is discriminatory.

Since the original PPP loan was forgiven, it is recorded in the Global Trade Alert database as a financial grant.

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

221 Processed liquid milk, cream & whey
0401 Milk and cream, not concentrated nor containing added sugar or other sweetening matter.
040120 Of a fat content, by weight, exceeding 1 % but not exceeding 6 %
040150 Of a fat content, by weight, exceeding 10 %

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