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.