Posted: May 5, 2020
The United States Small Business Administration has reopened the application process for the Economic Injury Disaster Loan COVID-19 related assistance program after a short delay, the National Thoroughbred Racing Association said May 5.
Farms with fewer than 500 employees whose primary activity is breeding horses may now apply for these loans offered to businesses that have suffered economic hardship as a result of the coronavirus pandemic.
“This is welcome news and a terrific opportunity for horse farms that are currently facing a number of daunting challenges,” NTRA President and Chief Executive Officer Alex Waldrop. “The NTRA encourages quick action by those interested, as the loans are processed on a first-come, first-served basis.”
The NTRA and Thoroughbred Horsemen’s Association lobbied the SBA for several weeks after farms were excluded from earlier federal emergency aid packages. On April 24, President Trump signed into law another package providing relief to small businesses, including farms and ranches.