Posted: April 7, 2020
The New York Thoroughbred Horsemen’s Association April 6 hosted a webinar to discuss various coronavirus (COVID-19) economic relief programs.
Jen Shah, an accountant who oversees the equine division at Dean Dorton of Kentucky, explained the Paycheck Protection Loan (PPL), also known Paycheck Protection Program (PPP), and the Economic Injury Disaster Loan (EIDL) as they related to horsemen based in New York.
NYTHA President Joe Appelbaum said of the PPP: “The application is fairly simple. Get it to a bank as soon as you possibly can.”
In the lead-up to Shah’s presentation, Appelbaum addressed a situation in California that has created an increase in workers’ compensation payments by trainers. He said New York currently has sufficient funding through the Jockey Injury Compensation Fund.
“The JICF has many months of reserves to keep paying our bills,” Appelbaum said. “There is no plan to do anything like California is doing at this point. We feel we’re in a lot better fiscal position.”