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Shuttered Venues Updated FAQsSBA Website for Shuttered Venues
February 22, 2021
Dear Arts Action Fund Member,
The Small Business Administration (SBA) continues to add unnecessary confusion to the rollout of the Shuttered Venue Operators Grants (SVOG). Last Friday, the SBA updated SVOG guidelines on their website to reflect that a loss of “earned” revenue would be the measurement for determining Priority Grants Distribution. I’m sorry to report that the SBA has now removed the word “earned” in this Priority Grants Distribution section. The language returned to the generic word “revenue.” This does not necessarily mean that they won’t use the “earned” revenue definition, but it has brought us back to the original ambiguity. I am lodging an official complaint with SBA. Below is how their Priority Chart reads today:
I know many nonprofit performing arts venues, producers, promoters and museums will be left perplexed once again as to next steps, when it comes to applying for PPP or SVOG. Adding to this dilemma is the announcement made today by the Biden Administration that they will be limiting PPP applications for a two-week window beginning Wednesday, February 24, 2021, exclusively to those PPP applicants with fewer than 20 employees. https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-3. Those larger employee applicants interested in submitting a PPP application will have to do so by tomorrow or wait until mid-March to have their applications processed. This is an effort to provide more equitable access to federal funds for smaller businesses and entrepreneurs.
I will continue to update you on this highly unconventional, yo-yo rulemaking at the SBA.
Stay safe and stay tuned for more.
Nina Ozlu Tunceli
To read all Arts Action Fund updates, visit COVID-19 Arts Federal Policy Updates & Action Alerts.