SBA Supplemental Shuttered Venue Operators Grant (SVOG) Update
SBA will begin sending invitations for supplemental awards for the SVOG program within the next two weeks. Supplemental awards will be provided to those who received an initial grant, and have illustrated a 70 percent loss when comparing 2021’s first-quarter revenues to the first quarter of 2019.
To date, the SVOG program has awarded approximately $9 billion in grants to more than 11,500 business, such as performing arts organizations, music venues and movie theaters, that were shuttered by COVID-19.
Supplemental award applicants can apply for up to 50 percent of their original SVOG amount, with a $10 million cap of the initial and supplemental awards combined. The supplemental awards allow SVOG recipients to extend the time to use their grant funds for expenses accrued through June 30, 2022, and to lengthen their budget period to 18 months from the initial grant’s disbursement date. Read more here