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Important News on Shuttered Venues Grant Opportunities
In a recent stakeholder call with the Small Business Administration (SBA), TCG was informed of the following important news regarding the Shuttered Venue Operator Grants (SVOG) program:
The opportunity to apply for an initial SVOG award will close on August 20, 2021. If your theatre has not yet considered applying for an SVOG award, please see TCG’s Shuttered Venue overview for links to the SBA application portal and full eligibility criteria. If your theatre has been preparing an application and has not yet submitted it, please note this deadline for completion! The SBA will continue to process initial grant applications received by August 20 as the agency begins to open the appeal, reconsideration, and supplemental processes.
Invitations to appeal declined applications were issued on August 2 and invitations to have approved grant amounts reconsidered were issued on August 4. If your theatre’s award amount was less than anticipated in your proposed SVOG budget, your theatre should have received a reconsideration invitation from the SBA. Applicants will have a two-week timeframe to respond to these invitations.
All SVOG applicants will be given an opportunity to update their Q1 calendar 2021 earned revenue figures before August 23, to better inform the SBA process for determining eligibility for supplemental awards! As a reminder, to be eligible for the supplemental award process, applicants must demonstrate a 70% or greater earned revenue decline, comparing earned revenue in the first calendar quarter of 2021 to the first calendar quarter of 2019. The SBA is aware that complete 2021 earned revenue information may not have been available when submitting original applications and will create a process for all applicants to update those figures. Please stay tuned for more details on this process as we have them, including the exact timeframe and process for applicants to start providing updated information.
In the week of August 23, the SBA will invite all applicants eligible for a supplemental award to accept a second SVOG grant. These grant offers will be 50% of the applicant's original grant award amount, before any deduction was taken for Paycheck Protection Program funding received in 2021. (Reminder: the combined amount received through a first and supplemental SVOG award may not exceed $10 million.)
TCG will keep you informed as all further information becomes available.
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