Originally published on December 30, 2020 and updated as of April 13, 2021.
On March 11, 2021, President Biden signed the American Rescue Plan Act, which expanded funding for the Shuttered Venue Operators Grant (SVOG) program to a total of $16.25 billion. On April 8, 2021, the SBA opened the application portal for SVO Grants but had to close it after a few hours due to technical difficulties. The SBA has said it will provide advance notice to potential applicants before the reopening date. Proskauer’s interdisciplinary Coronavirus Taskforce continues to address the latest updates and changes to the program, including recently released FAQs, in order to assist potential applicants in navigating this complicated program.
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Proskauer’s cross-disciplinary, cross-jurisdictional Coronavirus Response Team is focused on supporting and addressing client concerns. We will continue to evaluate the American Rescue Plan Act, the CARES Act, the Consolidated Appropriations Act, 2021, related regulations and any subsequent legislation to provide our clients guidance in real time. Please visit our Coronavirus Resource Center for guidance on risk management measures, practical steps businesses can take, and resources to help manage ongoing operations.