4.6.2021
Staff Contribution
The SBA has launched a portal for the Shuttered Venue Operators Grant (SVOG) application in anticipation of opening applications for the much-anticipated critical economic relief program this Thursday, April 8.
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, with more than $16 billion allocated for grants.
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 have been updated to reflect this.
For more information about the grant please click here.
Lastly, our partners at Massachusetts Small Business Development Center (MSBDC) will host a workshop on Tuesday, April 20 at 10:00 AM to help answer questions about how to apply for SVOG, how the funds may be used, and more. To register for the workshop, please click here.
