The Coronavirus pandemic has left the global economy writhing, and a group that has really felt that pain is large event venues, movie theatres and museums. Congress made additional relief available through the Small Business Administration (SBA) for qualifying businesses in the Consolidated Appropriations Act (signed into law in late December 2020) in the form of grants of up to $10 million. The program was then amended under the American Rescue Plan Act to allow entities applying for a Paycheck Protection Program (PPP) loan after December 27, 2020 to also apply for the Shuttered Venue Operators Grant (SVOG) as long as the SVOG is reduced by the amount of PPP funding approved.
Recently, the Small Business Administration (SBA) announced that it has launched an application portal for the Shuttered Venue Operators Grant, which will begin accepting applications Thursday, April 8, 2021. Qualified applicants need to register with the System for Award Management in order to be eligible to receive a SVOG. The SBA also released a preliminary checklist of documents that applicants may be required to submit, which is available here.
SVOGs will be issued in phases to those qualifying businesses based on the greatest amount of need as follows;