PROVIDENCE – The U.S. Small Business Administration is relaunching the application portal for the Shuttered Venue Operators Grant program on April 24 at 12:30 p.m., the SBA announced Friday.
The SBA said it has worked with vendors to fix the technology issues that plagued its initial launch attempt on April 8.
The application portal may be found online.
“We recognize the urgency and need to get this program up and running,” said Barb Carson, deputy associate administrator of SBA’s Office of Disaster Assistance. “With venue operators in danger of closing, every day that passes by is a day that these businesses cannot afford. We remain dedicated to delivering emergency aid as quickly as possible and will begin reviewing the applications on Saturday as they are submitted.”
The program, which has received $16.2 billion in funding, is designed to aid operators of live venues, live performing arts organizations, museums and movie theaters, and live venue promoters, theatrical producers and talent representatives.
Eligible applicants may qualify for grants equal to 45% of their 2019 gross earned revenue up to a maximum of $10 million in a single grant. The SBA noted that if an entity applied and was approved for a Paycheck Protection Program loan prior to Dec. 27, 2020, it is eligible to apply for an SVOG but will not be eligible for a PPP loan after receiving grants from SVOG. Prior to the passage of the American Rescue Plan Act, entities were ineligible to receive both forms of funding. Grant recipients that did receive a PPP loan will see their SVOG reduced by the PPP loan amount.
The first two weeks of the SVOG program will be dedicated to entities that suffered a 90% or greater loss of revenue between April and December 2020 due to the COVID-19 pandemic. The second two weeks will include entities that experienced a 70% or greater revenue loss between April and December 2020. Following those two periods, the program will include entities that experienced a 25% or greater revenue loss between one quarter in 2019 and the corresponding quarter of 2020.
Of the total funds allocated to the program, $2 billion is reserved for eligible entities with up to 50 full-time employees.
The SBA said it will process applications on a first-in, first-out basis, allocating applicants to their respective priority periods as it receives applications.
The SBA also encouraged interested parties to register on the portal in advance of its opening on Saturday. The administration noted it has made the following changes to the portal since its initial launch:
- Clarifying and making program documentation more user-friendly.
- Improving application portal security mechanisms.
- Adding an industry-standard waiting room technology to address the high interest in the program and provide an orderly application process for fair and smooth performance.
- Updating application features, including a new revenue chart, the ability to upload multiple attachments, and an improved application flow to match the eligible entity types and their respective required documentation.
