Here is the latest SBA news on the Shuttered Venue Operators Grant (SVOG) program, including the latest SVOG numbers.
- SUPPLEMENTAL AWARD PHASE IS COMING TO A CLOSE
- 8,957 invitations for a Supplemental Awards have been sent. 8,233 entities have been awarded Supplemental Awards.
- As reported on December 1, if you have not received a supplemental invitation and believe you are eligible, now is the time to say something. This window is closing quickly.
- Applicants eligible for Supplemental Awards are defined as "recipients of first, second, and third priority round awards who suffered a 70% or greater earned revenue loss for when comparing 2021 Q1 to 2019 Q1."
- RECONSIDERATION 2.0 IN PROGRESS
- More than 11,000 invitations to participate in Reconsideration 2.0 have been sent.
- Applicants who have been sent invitations for "Reconsideration 2.0" should have received emails that include the recording of the information sessions that were conducted last month.
- As a reminder, the SBA clarified last week that "Reconsideration 2.0" is an opportunity to:
- Restate or clarify initial award revenue.
- Update numbers to make an applicant eligible for a supplemental award.
- MONITORING, AUDITING, and CLOSE-OUT
- Beginning Monday, December 13, the SBA will be holding "Office Hours" sessions about Monitoring, Auditing and Close-Out. The sessions will include what an awardee needs in their records and will review use of funds rules and best spending of funds practices. All awardees will get an email directly from the SBA on how to join. There will be three sessions on the same content at the following times:
- Monday, December 13 at 3 p.m. (EST)
- Tuesday, December 14 at 5 p.m. (EST)
- Friday, December 17 at 11 a.m. (EST)
- The SBA will start testing the finalized budget action item later this month and will send out that action item at the beginning of 2022.
- Grant compliance questions should be sent to email@example.com.
- THE SBA'S PROGRESS REPORT
In case you missed it, on Monday, the SBA released its latest program report. While many numbers have since been updated, it does provide more detail that may be of interest. The SBA also released the most recent awardee data.
- JUST THE NUMBERS
As of earlier today, of the total 17,644 applications received, 17,608 decisions have been issued.
- $13.5 billion has been awarded, and $13.2 billion has been disbursed. These figures include $2.9 billion awarded and $2.8 billion disbursed in the Supplemental Award phase.
- 12,817 entities have been awarded initial awards.
- As noted earlier, 8,233 entities have been awarded Supplemental Awards.
- 4,791 initial applications have been declined.
- 3,178 appeals were accepted in the Appeals process.
- 868 reconsiderations were accepted in the initial Reconsideration process.
- There are 28 initial applications remaining that were received after June 26 that are still awaiting a decision.