The SBA has reopened the SVOG application portal
The U.S. Small Business Administration reopened the Shuttered Venue Operators Grant application portal this afternoon (April 26) for operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for grants based on 2019 gross earned revenue. To be eligible, a business must have been in operation as of February 29, 2020.
In preparation for the opening, the SBA is recommending that potential applicants should register on the application portal. Applicants will need a smartphone and a multi-factor authentication app to register and apply.
Grant totals are 45% of gross earned annual revenue for an eligible entity that began operation before 1/1/19, and the average monthly gross earned revenue for each full month in operation during 2019 multiplied by six for those that began operation after 1/1/19. In either case the maximum grant award is $10 million.
The SBA is accepting SVOG applications on a first-in, first-out basis, with funds set aside and priority periods of review for applicants with up to 50 full-time employees and those that suffered higher revenue loss between April and December 2020 due to the COVID-19 pandemic.
Check out the SBA's Applicant User Guide as well as Preliminary Application Checklist for an overview of documents needed to apply and the updated FAQ document.
For SVOG application portal technical assistance such as a password reset, browser suggestions, or how to use the multi-factor authentication with an app and the QR code, contact the SBA Call Center at 1-800-659-2955.
Contact us with any questions about your SVOG application and we will arrange a free 1-on-1 business consultation with our NYS-certified business advisor team, or review the Pace SBDC's SVOG summary page for more detail.