By: AQHA Executive Vice President Craig Huffhines
As an Association of horsemen and -women, we know a significant number of our members are professionals within the equine industry and small-business owners. Not only are our daily lives being affected by the current coronavirus (COVID-19) pandemic worldwide, but also our livelihoods.
We wanted to share some great resources for small-business owners as we all navigate this rapidly evolving situation.
On March 27, President Trump signed the third economic stimulus package into law. The total amount of money going in the fund is $350 billion. Any business with less than 500 employees is eligible for the loan. Self-employed individuals, independent contractors and sole proprietors are also eligible. The loans are federally guaranteed and tax free. All loan payments are deferred for one year.
The U.S. Senate Committee on Small Business & Entrepreneurship recently began sharing information that will guide the programs created through the Coronavirus Aid, Relief and Economic Security Act (CARES). View the guide.
Please contact your financial planner, accountant or bank for advice regarding your unique current situation.
Additional COVID-19 Equine Industry Resources
Horse Facilities and Riders: The American Quarter Horse Journal compiled a list for protecting facilities and riders during this infectious disease pandemic. View more information at www.aqha.com/-/covid-19-precautions.
In addition, the American Horse Council and Equine Disease Communication Center have released COVID-19 equine industry resources specifically for horse owners.
Shows: View information regarding the current status of AQHA sanctioned shows.
Racing: View updates for the AQHA racing community regarding industry changes due to COVID-19 concerns.
As difficult as this is for everyone around the world, we remain hopeful. We are thankful for your support through this incredibly difficult time. As horsemen and -women, we are driven by the same passion – the American Quarter Horse. Our western heritage has ingrained in us a drive so powerful that in times like this we come together because of our bond. We know we will come out stronger on the other side of this storm. Until then, we pray you are staying safe and remaining positive during this unprecedented time.