The Small Business Administration is opening up second grants to those who have already received one under its Shuttered Venue Operators Grant program, the agency has announced.
The $16 billion grant fund for live venues, operators and others closed to new applications recently, having disbursed about $9 billion in grants. Now, the agency will start offering supplemental grants in order of those who have seen the greatest loss of revenue during the Covid-19 pandemic.
“The SBA has awarded approximately $9 billion in crucial relief to approximately 11,500 performing arts venues and other related businesses so they can continue to anchor our neighborhoods and define our communities. We know many of these businesses still need assistance to fully recover from the unanticipated expenses and debt caused by the pandemic,” SBA Shuttered Venue Operators Grant Program Director Matthew Stevens said. “These supplemental grants will go to the hardest-hit Shuttered Venue Operators Grant awardees to ensure they can get back on their feet and get back to the business of driving our nation’s economy.”
Supplemental grants will first go to eligible businesses that have seen a 70% loss in revenue during Covid-19, the SBA said. Business can choose to apply for any amount up to 50% of their original SVOG grant amount, with a $10 million overall cap.