"Covered Supplier Costs. Covered supplier costs are expenditures for the supply of goods that (a) are essential to the operations of the PPP borrower at the time at which the expenditure is made and (b) are made pursuant to a contract, order or purchase order (i) in effect at any time before the covered period with respect to the applicable covered loan or (ii) with respect to perishable goods, in effect before or at any time during the covered period with respect to the applicable covered loan."
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As I read this, a farmers fertilizer, chemicals, seed......would not be covered unless he had a contract or an order placed before the date he received PPP since they are not perishable.
Just curious if anyone here reads it differently.
Thanks for any comments you might have.