The U.S. Small Business Administration (SBA) will reopen the Shuttered Venue Operators Grant application portal on Monday, April 26 at 12:00 PM.
The application portal for the SVOG program ran into technical difficulties almost immediately on April 8, with venue owners and other eligible businesses saying on social media that they could not upload supporting documents for their applications. The SBA then shut down the portal for repairs.
The SVOG program was created when the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, P.L. 116-260, was signed into law in late December. The Economic Aid Act appropriated $15 billion to the program.
The American Rescue Plan Act, which became law March 11, appropriated an additional $1.25 billion to the SVOG, bringing the program’s funding to a total of $16.25 billion. More than $16 billion of the funding is set aside for grants, with at least $2 billion reserved for eligible SVOG applicants with no more than 50 employees.
Those eligible to apply for an SVOG include:
- operators of live venues
- live performing arts organizations
- movie theaters
- live venue promoters
- theatrical producers and
- talent representatives
The American Rescue Plan Act amended the SVOG program so entities that apply for a Paycheck Protection Program (PPP) loan after Dec. 27, 2020, can also apply for an SVOG, with the eligible entity’s SVOG to be reduced by the PPP loan amount.
Think your business may qualify for an SVOG?
To learn more about the SVOG program, click on this link from the SBA: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/shuttered-venue-operators-grant or reach out to S&K for more details!