SBA says no SVOG funds for desperate venues before late May

The SBA nows says that no Shuttered Venue Operating Grant (SVOG) funds would be awarded to desperate independent venues, promoters, and agents before the end of May.

In December, more than $16 billion was earmarked by the US Congress and signed into law to help the independent live sector devastated by a year of COVUD caused shutdowns.

But on Monday night the SBA messaged applicants that it “anticipates SVOGs awards will start in late May,” five months after Congress approved the funds and 6 weeks after the first application was received

In the first 24 hours, more than 17,000 began the SVOG application process.