Practically Half of Shuttered Venue Grant Functions Accredited Thus Far
The SBA has permitted 43% of Shuttered Venue Grant functions, in response to Billboard.
A brand new report states the Small Enterprise Affiliation has notified 6,610 of the overall 15,026 candidates of their approval. On the flip aspect, one other 440 functions have been declined to this point.
Per SBA’s web site, this system consists of over $16 billion in grants for shuttered venues. The grants are to be distributed to venues, theaters, and different stay leisure areas, for as much as 45% of their gross earned income misplaced throughout the lockdown.
The Shuttered Venue Operators Grant (SVOG) program was established by the Financial Support to Onerous-Hit Small Companies, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act.
The web utility system skilled various delays earlier than it was lastly up and operating this 12 months.