Dear APAP Members,
As promised, here is the latest update from the Small Business Administration (SBA) on the Shuttered Venue Operators (SVO or "SVOG") Grant program.
While the SBA has not stated an application open date, we believe that the application process will open soon. If you are in need of relief, we recommend that you review the FAQs and the Shuttered Venue Operators Grant program information on the SBA's website to determine 1) your eligibility, 2) your priority status, and 3) how to prepare.
The SBA has also confirmed that you may not apply for both a Shuttered Venue Operators Grant and a Paycheck Protection Program (PPP) forgivable loan at the same time. (This only applies to PPP applications after December 27, 2020.) However, if your application for one program is declined, you may apply for the other program.
We recommend you consider whether a PPP forgivable loan or an SVO grant better suits your needs before applying. The PPP application process for a Second Draw PPP Loan or a First Draw PPP Loan is currently open now through March 31, 2021.
We are stronger together.
Lisa Richards Toney
President and CEO, APAP