THOROUGHBRED breeders can avail of the Covid-19 credit guarantee scheme, thanks to lobbying by the Irish Thoroughbred Breeders’ Association.

The ITBA has been working with the Ireland Strategic Investment Fund (ISIF) and the Strategic Banking Corporation of Ireland (SBCI) to ensure that those working in breeding will qualify for any additional funding which would become available during the pandemic.

The funding is available through AIB, Bank of Ireland and Ulster Bank, with additional lenders to be added in the coming weeks. Under the scheme breeders can borrow up to 25% of their previous year’s turnover, up to €1 million, at favourable rates. The lending term can be up to five and a half years.

Shane O’Dwyer, CEO of the ITBA, said: “In the past the breeding industry was not included in this scheme but now we are. It will bring liquidity into the system and it is not just for the trading of bloodstock. Breeders can borrow for capital projects too.”

The ITBA invites breeders to get in touch with them for more information.