The Small Business Administration (SBA) has successfully relaunched its Shuttered Venue Operators Grant (SVOG) Application. 17,356 applications were received for the program in the first 24 hours of opening.
SBA kick-started the SVOG application process on Monday, April 26. Some businesses were able to successfully submit within minutes, while others were in a waiting queue with others. In response, SBA directed applicants to the call center- 1-800-659-2955 – to help those who were struggling to complete the process.
Shuttered Venue Operators Grant is part of a $900 billion COVID relief package. The program aims to provide $15 billion to independent venues, theaters, and other businesses. This is to help those who have struggled the most in 2020.
The grant was signed into law on December 27. Due to its infrastructure, applications for the program were not set to begin until April 8. However, due to technical issues, the portal was delayed from opening.
SVOG applicants are to show they have lost 90% or more in revenue to be eligible for the reward. Moreover, approved businesses will receive funding within the first 14 days. Once this takes place, more grants will be given to those who lost 70% or more in revenue last year.
Music venues and businesses can apply for the grant here.
