SBA has awarded more than $10B in relief to nearly 12,000 venues through the Shuttered Venue Operators Grant program, helping theaters, live venues, and related businesses recover and re-open across America. 90% of the grants went to businesses with less than 50 employees.
SBA is beginning supplemental notifications to eligible Shuttered Venue Operators Grant awardees. Those who received an initial grant and can show a 70% loss when comparing 2021’s first-quarter revenues to the same in 2019 are eligible to receive a supplemental grant.
Awardees can choose to apply for any amount up to 50% of their original Shuttered Venue Operators Grant amount, with a $10 million cap of the initial and supplemental awards combined.
The supplemental funds also allow Shuttered Venue Operators Grant awardees to extend the time to use their grant funds for expenses accrued through June 30 of next year and lengthen their budget period to 18 months from the initial grant’s award date.
Read the full press release: https://sba.gov/article/2021/sep/24/sba-administrator-announces-new-shuttered-venue-operators-grant-milestone-supplemental-awards-begin
Find SBA resource partners near you for more business assistance: https://sba.gov/local-assistanceExplore Shuttered Venue Operators Grant data reports: https://sba.gov/svog