Advocacy Update: SBA Launches New SVOG Portal and Announces Applications Will Open on April 8, 2021

By Laurie Baskin posted 03-19-2021 17:13

  

SBA has launched a Shuttered Venue Operators Grant (SVOG) application portal today in anticipation of opening applications for the long-awaited program on Thursday, April 8, 2021.

 

In advance of the official SVOG application opening, the SBA will host a national informational webinar to highlight the application process on Tuesday, March 30, 2021 from 2:30-4:00pm ET. Please register here.

 

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, 2021, appropriated an additional $1.25 billion, bringing the program funding to a total of $16.25 billion.

 

To ensure eligible venues 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 for “first draw” loans and “second draw” loans have been updated to reflect this. So far, the PPP application deadline remains March 31, 2021. 

 

As the SBA builds and prepares to open the program, the dedicated SBA website, www.sba.gov/svogrant, which includes frequently asked questionsvideo tutorials and other SVOG details, is the best source for information for those looking to apply for a grant. To prepare in advance of the SVOG application portal opening on April 8, potential applicants should get registered in the federal government’s System for Award Management (SAM.gov), as this is required for an entity to receive an SVOG, and reference the preliminary application checklist and eligibility requirements

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