- Marinas and tackle shops can now apply for available loans
- See the useful list (link below) that allows a review of the COVID-19 mitigation rules by state.
- CARES Act includes forgivable loans to pay for up to eight weeks of payroll, including benefits.
Just about every business in the recreational fishing industry has been impacted by COVID-19 and actions taken by federal, state and local governments to slow the spread of the novel virus.
Small businesses including marinas and tackle shops can now apply for loans available through the Small Business Administration (SBA). These loans are part of the $2 trillion COVID-19 relief package, CARES ACT, passed by Congress and signed by President Trump last week.
The CARES Act includes upwards of $350 million of forgivable loans to pay for up to eight weeks of payroll costs, including benefits. The loans can also be used to pay mortgages, rent, and utilities. These loans become available at a time when many recreational fishing related businesses are experiencing massive declines in revenue and shortfalls with cash flow. These loans may prove to be extremely helpful for businesses and their employees to get through the next two months as policies remain in place to minimize the impact of the virus on our nation. Use the following link to learn more about these loans and to check your eligibility. https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
While there has been guidance and financial support provided at the federal level, most policies regarding social distancing, essential businesses and stay at home orders have been carried out at the state and local levels. Thus, policies that impact our ability to go recreational fishing and recreational fishing businesses vary from state to state. The National Marine Manufacturers Association (NMMA) has put together a useful list that allows you to review the COVID-19 mitigation rules by each state. Use the following link to review the various policies.
If you have specific questions regarding financial assistance programs or measures in your particular state don’t hesitate to contact us.
It is also important to remember that anglers have a responsibility to comply with social distancing rules even when outside fishing.
We can’t stress enough how important it is to follow these guidelines not only for the sake of public health but also so we are allowed to continue fishing during these trying times.
About the Recreational Fishing Alliance: The chartered mission of the RFA is to safeguard the rights of saltwater anglers, protect marine, boat and tackle industry jobs, and ensure the long-term sustainability of our Nation’s saltwater fisheries – that is our constitution, it is what we live by every single day on your behalf as a recreational fisherman – from a recreational perspective, it’s all about the fish, the fishermen and the fishing industry. Click here to learn more.