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PRCA and the CARES Act, April 24

by PRCA ProRodeo | Apr 24, 2020

Dear Contestants, Stock Contractors, Committees and Contract Personnel:

The Federal Government passed additional funding under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to assist small businesses during these difficult times.  Most members and Rodeo Committees are eligible to apply for the Small Business Administration’s Paycheck Protection Program (PPP).  The first round of funding went quickly, and we want to alert you of the second-round opportunity.

The program is to help small businesses and independent contractors get through unprecedented times and should not be viewed with any stigma.  If you haven’t considered applying for assistance, I encourage you to review the Coronavirus (COVID-19):  Small Business Guidance & Loan Resources, which can be found at: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources.

The interim act was approved Friday providing up to $250 billion in the Paycheck Protection Program.  These programs are available to most all small businesses (including sole proprietors, independent contractors and self-employed persons) and non-profit organizations.  There is a link at the top of the Coronavirus (COVID-19) tab on ProRodeo.com:  Small Business Guidance & Loan Resources which redirects you to the Application for the Economic Injury Disaster Loan.

We are hearing that the funds are expected to go quickly again.  Please work with your bank and their Small Business Administration (SBA) Loan experts.  Also, bring your tax filings from the last two years with you when going to the bank.  This is an opportunity for you to receive funding during the stoppage in rodeo.  Our recommendation is to act before the end of this week to get an application submitted to the SBA.

We are working hard to re-open rodeos and hope to share the next steps shortly.  We will continue to update the PRCA COVID-19 Tab and click here to review.

Sincerely,  

George Taylor
Chief Executive Officer

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