The SBA has approved 43% of Shuttered Venue Grant applications, according to Billboard.
A new report states the Small Business Association has notified 6,610 of the total 15,026 applicants of their approval. On the flip side, another 440 applications have been declined thus far.
Per SBA’s website, the program includes over $16 billion in grants for shuttered venues. The grants are to be distributed to venues, theaters, and other live entertainment spaces, for up to 45% of their gross earned revenue lost during the lockdown.
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act.
The online application system experienced a number of delays before it was finally up and running this year.
More info and apply here.
Source: Billboard
This article was first published on Your EDM. Source: Nearly Half of Shuttered Venue Grant Applications Approved Thus Far