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Grant, loan programs available for COVID-impacted businesses
Various state and federal stabilization programs have been made available to small businesses in light of the coronavirus (COVID-19) pandemic. Several target small businesses, and the parameters appear to pertain to horseracing participants such as trainers, owners and farm owners.
Under a March 23 executive order from Maryland Gov. Larry Hogan, horse care, boarding facilities and other operations that provide self-care for privately-owned horses—stable areas and training centers—are considered essential businesses and should continue operations while implementing safety measures that promote social distancing and other best practices.
The following is an outline of some of the financial stabilization programs, though each business through tax advisers and bookkeepers must determine whether it qualifies for relief.
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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.
