This story is being republished under a special NJ News Commons content-sharing agreement related to COVID-19 coverage. Link to story: roi-nj.com/2021/08/11/finance/sba-to-make-additional-grant-money-available-for-shuttered-venues/
The U.S. Small Business Administration announced Thursday that it will make supplementary grants available to venues that already have qualified for an award in the Shuttered Venue Operators Grant program.
Later this month, the SBA will open the program for supplemental SVOGs for 50 percent of the original award amount, capped at a total of $10 million (the total being for the initial and supplemental awards combined). Details will be announced at a later date.
Additionally, to ensure no eligible venue is left behind, the SBA said it is currently accepting —by invitation—applications for reconsideration of award amounts and appeals. This rare opportunity gives applicants a chance to prove their eligibility and reverse a prior decision.
SBA Administrator Isabella Casillas Guzman said the SBA is committed to delivering relief to entertainment venues through these various options. Should the need arise, the SBA may reopen its portal or make other adjustments to its plan to best meet the needs of small businesses.
“After making much-needed improvements to this vital program, we’ve made swift progress getting more than $8 billion in funds into the hands of more than 10,800 performing arts venues and other related businesses—two-thirds of which employ less than 10 employees,” she said. “These small businesses suffered disproportionate impacts from the pandemic and were often left out of early rounds of relief.
“However, we also know so many small businesses continue to struggle. That’s why, as this program nears the finish line, we’re providing additional funding options for our hardest-hit venues through our supplemental awards program, which will provide another critical lifeline to ensure businesses can reopen and stay open.”
The SBA’s Office of Disaster Assistance Customer Service Center is available from 8 a.m. to 8 p.m. ET to provide technical assistance with the SVOG application portal and can be reached at 800-659-2955 or, for the deaf and hard-of-hearing, at 800-877-8339.
For additional information on SBA’s Economic Relief programs, visit sba.gov/funding-programs/loans/covid-19-relief-options