Published:
May 2, 2023 03:59 pm EDT
Horse Racing New Brunswick (HRNB) has announced a new initiative geared towards generating horse ownership in New Brunswick.
For the 2023 season, HRNB will offer a Horse Ownership Loan Program. Ten loans will be issued on a first come first serve basis. Criteria are listed below.
- Horses purchased must be 10 years of age or younger
- Ten loans are available - $2,500 for horses/geldings and $3,500 for fillies/mares
- Mares that are retained for breeding in New Brunswick are eligible for the Breeders Grant Program ($2,000 paid upon production of first live foal)
- Horses must race nine out of 10 race dates in Woodstock.
- Fifty per cent of all purse monies won in New Brunswick will be retained by HRNB until loan is paid. Horses unsuccessful in earning the full balance in 2023 can carry it forward in 2024. Such circumstances, the balance of the loan is due in 2024.
- Horses missing a start or scratched cannot race within eight days of a scheduled race date in New Brunswick (Woodstock) or else the balance of the loan is due in seven days.
- Horses sold from the loan program will have balance of loan due to HRNB within seven days.
- Loans will be issued to all parties on June 3, the opening day of racing in Woodstock, N.B.
It is HRNB's hope to continue this program in future years to build up the horse racing population.
Interested individuals are encouraged to contact Dr. Mitchell Downey in writing by emailing [email protected].
(With files from HRNB)