LEXINGTON, Ky. (May 5, 2020) – The Small Business Administration (SBA) has reopened the application process for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program after a short delay. 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,” said NTRA President and CEO Alex Waldrop. “The NTRA encourages quick action by those interested, as the loans are processed on a first-come, first-served basis.”
The NTRA 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.
NTRA partner Dean Dorton, one of the nation’s leading experts on equine tax matters, posted an update to the COVID-19 microsite on NTRA.com that outlines the new provisions that will positively impact horse breeding farms. That PowerPoint can be found here.
About the NTRA
The NTRA, based in Lexington, Ky., is a broad-based coalition of more than 100 horse racing interests and thousands of individual stakeholders consisting of horseplayers, racetrack operators, owners, breeders, trainers and affiliated horse racing associations, charged with increasing the popularity, welfare and integrity of Thoroughbred racing through consensus-based leadership, legislative advocacy, safety and integrity initiatives, fan engagement and corporate partner development. The NTRA owns and manages the NTRA Safety and Integrity Alliance; NTRA.com; the Eclipse Awards; the National Horseplayers Championship; NTRA Advantage, a corporate partner sales and sponsorship program; and Horse PAC®, a federal political action committee. NTRA press releases appear on NTRA.com, Twitter (@ntra) and Facebook (facebook.com/1NTRA).