Applications are expected to open on April 8, 2021. Stay up to date by frequently visiting www.sba.gov/svogrant. For the latest information contact SVOGrant@sba.gov directly via e-mail, or call the New Mexico SBA district office; (505) 248-8225.
For eligibility requirements click here.
SVOG applicants need to register with the federal government’s SAM at www.SAM.gov to apply and cannot use an ITIN, EIN, or other means of identification or registration. Interested parties are encouraged to obtain a Dun and Bradstreet (DUNS) number (a prerequisite for SAM registration) as soon as possible. With a DUNS number, interested parties then should immediately begin registering in SAM.gov, as the SAM registration may take up to two weeks once submitted.
$1.25 billion additional funds for the Shuttered Venue Operators Grant program with the new allowance that entities can apply for both PPP and SVOG for a net award.
Eligibility: Live venue operator or promoter, theatrical producer, or live performing arts organization operator, a museum operator, a motion picture theatre operator, or a talent representative who has experienced at least a 25% reduction in gross earned income.
Business must have been in operation as of February 29, 2020.
Grant offers up to $10 million or 45% of 2019 gross earned income, whichever is less, based on significant 2020 revenue losses.
Recipients who receive an SVOG in the initial phase will have 1 year from the date their awards are disbursed by the SBA to use grant funds. If an eligible entity receives a Supplemental Phase SVOG, they will instead have 18 months from the date their Initial Phase award was disbursed by the SBA to expend all their combined grant funds (both Initial and Supplemental Phase awards). At the end of the applicable deadline, SVOG grantees must return all unexpended SVOG funds to the SBA.
Dispersal of the award will be in the form of a single lump sum while others will be spread out over multiple payments. SVOGs under $1 million will be disbursed in 1 or 2 installments. Awards for larger amounts will be disbursed in 2 to 4 installments.
Use of funds can be used to: refund customers still holding tickets for canceled performances, reimburse an owner who put their own money into the entity to keep employees and operating expenses paid, reimburse themselves for allowable expenses they already paid going back as far as March 1, 2020, pay artist deposits and guarantees.
For employee count, the SBA is drawing on the Economic Aid Act’s specific provisions re: the calculation of employees and decades of agency experience in counting employees under the SBA 20. An entity’s average number of full-time employees will be determined with reference to each pay period that falls, either in whole or in part, within the 12-month timeframe stipulated by the Economic Aid Act.