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.”
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.