The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act.
The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Here are five things you should know about this program.
1) The SBA will begin accepting SVOG applications
The SBA has launched a splash page for the Shuttered Venue Operators Grant Application portal in anticipation of opening grant applications for the critical relief program on Thursday, April 8.
2) Register for the national SVOG webinar on March 30; submit questions by March 29
Prior to the SVOG applications opening on April 8, the SBA will host a national informational webinar to highlight the application process for potential eligible entities from 2:30 to 4 p.m. ET on Tuesday, March 30. Potential applicants can suggest topics they’d like to see covered via e-mail to SVOGrant@sba.gov by 12 p.m. ET on Monday, March 29. The SBA will make every effort to address the question categories on the webinar and future FAQs, but cannot provide specific, individual answers.
3) You can now receive both a PPP loan and an SVOG
To ensure eligible venues do not miss a window to receive assistance through the Paycheck Protection Program, the American Rescue Plan Act 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 have been updated to reflect this change. However, under the law, entities will be ineligible for a PPP loan after they receive an SVOG.
4) Get prepared with these multiple tools
The SBA has created several tools and resources to help potential SVOG applicants prepare, including:
- Regularly updated Frequently Asked Questions (FAQs)
- Video tutorials, including how to register on the System for Award Management (SAM.gov), a federal requirement to receive an SVOG
- A Preliminary Application Checklist to help you gather documents and other information that may be needed
- An Eligibility Requirements Chart to help determine qualifications: Regularly updated Frequently Asked Questions (FAQs); video tutorials including how to register on the System for Award Management (SAM.gov), a federal requirement to receive an SVOG; Preliminary Application Checklist to help you gather documents and other information that they may be needed; an Eligibility Requirements Chart to help determine qualification
5) Tap local SBA partners for technical assistance
The SBA Resource Partner Network provides advising and counseling services to help organizations prepare for funding opportunities like the SVOG, PPP and other business recovery needs.