The U.S. Small Business Administration has more to offer applicants of the Shuttered Venue Operators Grant program.
New applications seeking economic aid for live entertainment small businesses, nonprofits, and venues will be accepted until 2:59 a.m. EST on Aug. 21.
Thus far, the SVOG program has awarded $8.4 billion in grants to more than 10,800 cultural institutions.
While the application portal will close to new applicants, the SBA will continue delivering aid through the supplemental awards program. The SBA will open the program for supplemental SVOGs later in August for 50% of the original award amount, capped at a total of $10 million. Details will be announced at a later date.
The SBA is also currently accepting, by invitation, applications for reconsideration of award amounts and appeal; and should the need arise, the SBA may reopen the portal or make adjustments to best meet the needs of small businesses.
“After making much-needed improvements to this vital program, we’ve made swift progress getting more than $8 billion in funds into the hands of more than 10,800 performing arts venues and other related businesses – two-thirds of which employ less than 10 employees. These small businesses suffered disproportionate impacts from the pandemic and were often left out of early rounds of relief,” SBA Administrator Isabella Casillas Guzman said in a prepared statement.
“However, we also know so many small businesses continue to struggle. That’s why, as this program nears the finish line, we’re providing additional funding options for our hardest-hit venues through our supplemental awards program, which will provide another critical lifeline to ensure businesses can reopen and stay open,” Guzman said.
Editor’s note: This story was updated at 3:32 p.m. EST on Aug. 11, 2021, to update the deadline for SVOG applications to Eastern Standard Time. The Pacific Standard Time deadline is 11:59 p.m. PST on Aug. 20.
1 of 1 article
0 articles remaining
Advance your business edge with news from NJBiz. Register now for more article access.