Shuttered Venues Operators (SVO) Grant
The grant program is opening April 8 – the SVOG Portal is now open and FAQs are here.
We recommend you see if you qualify with free application assistance from Curtains Up NYC.
Please note: per the latest Stimulus bill, businesses that apply for a PPP loan after Dec. 27, 2020 can also apply for an SVO grant, with the SVO grant to be reduced by the PPP loan amount. Businesses will be ineligible for a PPP loan after they receive an SVOG.
Restaurant Revitalization Fund (RRF) for Restaurants & Bars
The SBA announced that they are eliminating the System for Award Management (SAM) registration process for independent restaurants and bars applying for the RRF. Businesses no longer need to acquire a DUNS number or register for a SAM.gov account. If you’ve already started or finished the process, your progress will not have an impact on funds awarded once the program is live. This change eliminates a major barrier and creates a level field that gives the smallest businesses a better shot at getting relief.
Learn more here.
Small businesses can receive grants of up to $10,000 to maintain payroll and operations. Businesses that are minority, women, or immigrant-owned will be given priority, as well as those that modify their operations (i.e., hire delivery workers, increase inventory, or provide product pick-up). Applications accepted on a rolling basis.
Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.
The deadline to apply for the Paycheck Protection Program (PPP) is now May 31 per the latest Stimulus bill. If you haven’t already, we encourage you to contact your lender or email us for 1-on-1 support, access webinars, and help finding a community lender. First Draw Loan FAQs – Second Draw Loan FAQs – Read these Provisions for Restaurants