The Small Business Administration (SBA) has posted new Post-Award Guidance for Shuttered Venue Operators (SVOG) grantees and is now posting action items in the portal requesting a final projected budget. The agency will also be inviting organizations that did not qualify for a supplemental award based on Quarter 1 or Quarter 2 revenue comparisons to apply for supplemental award eligibility based on earned revenue declines in Quarter 3 or Quarter 4 of calendar year 2021, compared to the same quarters in 2019.
New Opportunity for Supplemental Award Eligibility!
The SBA is responding to stakeholder feedback and adjusting supplemental award eligibility criteria to allow those that experienced their steepest revenue declines later in 2021 to access a supplemental award. Current SVOG grantees that did not demonstrate the required 70% or greater earned revenue declines in Quarter 1 or Quarter 2 of 2021 compared to the same quarter in 2019 will be provided an opportunity to seek eligibility for a supplemental award if the required earned revenue decline can be demonstrated for Quarter 3 or Quarter 4 of 2021. The approximately 4,000 SVOG grantees that have not yet qualified for a supplemental award will receive an action item within the next two weeks to invite grantees to apply for reconsideration for a supplemental award based on 2021 Q3 or Q4 earned revenue figures.
New Post-Award Guidance and Final Budget Action Items
The SBA has reorganized the SVOG website to include a section with detailed information regarding requirements to Manage Your SVOG Grant, including updated Post-Application Guidance and a new 26-page Post-Award FAQ. The SBA is also populating the grant portal with new action items, requesting a finalized budget from each grantee. To support this request, the SBA has posted a new training video on how to prepare your final budget and a training video on how to submit your final budget.