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COVID loan programs get more funding; owners, tracks eligible
Additional funding for the Paycheck Protection Program and Economic Injury Disaster Loan program is included in a $480 billion in coronavirus (COVID-19) financial relief passed by the U.S. Senate and House of Representative and signed by President Trump April 24.
The EIDL program and Paycheck Protection Program are part of the Coronavirus Aid, Relief and Economic Security (CARES) Act that passed Congress in March. The most recent legislation adds $60 billion to the EIDL program and another $310 billion for the PPP.
The Thoroughbred Horsemen's Association April 24 announced that the Small Business Administration issued new guidance clarifying that racetracks and small entities such as horse ownership entities are eligible for PPP loans.
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At its September 9 open Board meeting, the Maryland Thoroughbred Horsemen’s Association (MTHA) Board of Directors voted unanimously to increase the purse allocation for finishers from 6th place through last in overnight races. The payout, which had been fixed at $300 since April 2022, will now rise to $500, effective immediately.
Maryland horsemen have emerged as meaningful beneficiaries of the collaborative dual-state stakes schedule and new bonus incentives, according to statistics covering the period from June 21 through August 23 of this year.
