Advocacy News – March 23, 2021
The U.S. Small Business Administration announced the creation of a website for the Shuttered Venue Operators Grant (SVOG) program late last week in anticipation of opening applications for the much-anticipated economic relief program on Thursday, April 8, 2021.
The 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 for shuttered venues.
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.
For all you need to know in preparing for your application please visit the SBA’s eligibility website for the SVOG program here: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/shuttered-venue-operators-grant#section-header-4
For questions on this program, please contact Dan Papineau at dpapoineau@michamber.com