WASHINGTON, D.C. — U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the SBA began supplemental award notifications to eligible applicants this week, through the Shuttered Venue Operators Grant (SVOG) program.
Thus far, the SBA has awarded over $10 billion in economic relief to nearly 12,000 venues, providing a critical lifeline for theaters, live venues, and other entertainment and cultural hubs as they recover from the pandemic, re-open and continue contributing to local economies. Since the inception of the SVOG program, more than 90% of the grants have supported venues with less than 50 employees – or the smallest of small businesses – a key priority of Administrator Guzman.
“America’s performing arts venues and related businesses have been among the hardest-hit during this pandemic. Our SBA team has helped approximately 12,000 of these treasured community institutions secure a combined $10 billion to weather this crisis and build back better,” SBA Administrator Isabella Casillas Guzman said. “The majority of the Shuttered Venue Operators Grants have gone to businesses with 50 employees or less – which means we’re reaching our smallest businesses, which suffered disproportionate impacts from the pandemic and were often left out of early rounds of relief. My vision for the SBA is that we make all of America’s small businesses, including the smallest venues and entertainment businesses, feel like the giants they are in our economy. Our SVOG program is a great example of how we’re doing just that.”
Among the thousands of venues that have received grants to date are 111 across Kentucky, amounting to over $68.4 million. For a weekly update of SVOG awards by state, visit www.sba.gov/svog.
The supplemental award period remains open, and SBA continues sending supplemental invitations to eligible SVOG awardees. Applicants can choose to apply for any amount up to 50% of their original SVOG amount, with a $10 million cap of the initial and supplemental awards combined, according to the law.
The supplemental awards also allow SVOG recipients to extend the time to use their grant funds for expenses accrued through June 30, 2022, and lengthen their budget period to 18 months from the initial grant’s award date. SVOG is one of the many programs the SBA has administered during the pandemic and contributed to more than $1 trillion in relief for America’s communities.
For additional information on SBA’s Economic Relief programs, visit COVID-19 relief options. Further, the SBA’s resource partners, including SCORE Mentors, Small Business Development Centers, Women’s Business Centers, and Veterans Business Outreach Centers, are available to provide entities with individual guidance on their applications. Applicants can find a local resource partner via a zip code search at http://www.sba.gov/local-assistance.
Click here for more Kentucky business news.