Shuttered Venue Operators Grant
On Friday, January 29th, the Small Business Administration (SBA) released a set of frequently asked questions for the Shuttered Venue Operators Grant (SVOG) program. The FAQs do not specify when the SBA will start accepting applications but does recommend actions potential applications should be taking while the SBA builds the application platform.
The $15 billion SVOG was created by The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the COVID-19 relief bill that was signed into law in late December and also revived the Paycheck Protection Program). The SVOG will provide eligible applicants with grants equal to 45% of their gross earned revenue, up to a maximum of $10 million.
What venue operators should be doing now:
Obtain a Dun & Bradstreet number, click here: DUNS
Register in the System for Award Management, sam.gov (ITIN and EIN cannot be used)
Organize documentation showing employee count and monthly revenue
Determine and document gross earned revenue loss in 2020 compared to 2019
Shuttered Venue Operators Grant Program Website
Journal of Accountancy – SBA issues FAQs for Shuttered Venue Operators Grants
Belynda F. Allen
Hancock County Economic Development Corporation
Email: [email protected]