SBA previews Shuttered Venue Operators Grant website; schedules national webinar
The U.S. Small Business Administration announced it has launched a landing page for its Shuttered Venue Operators Grant application portal, in anticipation of opening applications for the economic relief program on April 8. The SVOG program was established by the Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act, which appropriated $15 billion for it. The American Rescue Plan Act, signed into law by President Joe Biden on March 11, appropriated an additional $1.25 billion, bringing the program funding to a total of $16.25 billion, with more than $16 billion allocated for grants. To ensure eligible businesses do not miss a window to receive assistance through the Paycheck Protection Program, the American Rescue Plan Act also amended the SVOG program so entities that apply for a 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. The PPP loan applications have been updated to reflect this. Before the official SVOG application opening, the SBA will host a national informational webinar to highlight the application process for potential eligible entities on March 30 from 1:30 to 3 p.m. Central time. Those interested in participating can register at this Eventbrite link.