SVOG Update: June 18, 2021
Happy Juneteenth! We are pleased to celebrate this holiday with you.
We met with the SBA today (June 18) on our latest daily stakeholder call (SBA staff was on a mandated half-day of work to keep pushing through this emergency funding program, and will be working through the weekend, as well.)
Reminder of SVOG timeline:
The SBA has confirmed that applicants in the 14-day Priority One grant category (those that have experienced a 90% or greater gross revenue loss) began receiving award announcements as of May 26. The agency determined that the 14-day Priority Two grant award announcements began on June 10 (for applicants with a 70% or greater gross revenue loss), and the Priority Three grants will start to be announced on Friday, June 25.
The SBA is planning to make 10,000 decisions by July 4th, and all applications should have a decision by mid-July. The agency is doing away with multiple disbursements and all awards will be made in one lump sum.
Here are the latest updates:
As of this morning, 3272 applications have been "decisioned".
- Of those, 864 have been notified of their awards, and 943 are queued for award notification, expected to go out by Monday.
- 293 that are clearly ineligible are queued for decline.
- 243 are queued for "technical correction". This is a category of likely eligible applicants that need a correction to their paperwork. For anyone in this category, you will not have to reapply for the program, but rather the SBA will work with you to address the specific documentation issue that is holding up your application. Notifications of whether or not applicants fall into this category are going out soon.
- Approximately 900 applications that have been processed still need to be parsed into the decline bucket or "technical correction" bucket.
- Of the 74 awardees that received partial disbursement before it was determined all awardees would receive a single lump sum, 71 have now received the balance of their awards. The remaining three will be addressed by Monday.
- On Monday, the SBA will begin to notify applicants that were declined/ineligible. The SBA noted that its priority is to address the other backlogs that will result in awards.
Starting Monday, the request for 4506-T corrections will begin again. Those who have been waiting to fix issues will be able to with the help that has been put in place. (FYI, "Office Hours" webinars will be held on Tuesdays and Thursdays.) You will be contacted by SBA if you need to correct this form. Do not worry until and unless you hear from SBA about about correcting this form.
- If your status on the portal says "approved", but you haven't received an email or further instructions, sit tight. The SBA will be sending you email instructions shortly.
- For those who have been awarded and are seeing a "rejected" status around the transfer of funds, in the words of the SBA, "do not panic." The SBA is fixing this issue.
- On Monday, the SBA will publish who has been granted awards to-date, as well as the amounts of those awards, by state. It will also issue an updated program report with the latest numbers.
- If your application period has not begun, your application will likely still read as ‘submitted.’
- According to statute, the SBA may not award a supplemental grant until all applications for initial grants submitted within the program’s first 60 days have been processed.
- Anyone who has not applied yet for an initial grant, but is considering it, should apply right away before the supplemental grant process begins.
The SBA reports that 1,800 applicants still have not completed their SAM.gov registration. Please log into SAM.gov now, and make sure you have clicked submit on everything.
You cannot receive funds until you complete this step.