February 19, 2021
The Small Business Administration (SBA) posted a major development to its website today, confirming that lost “Earned Revenue” will be the measurement in determining which Priority Period an organization qualifies for in awarding Shuttered Venue Grants. This is welcome news to the nonprofit performing and presenting arts community because they will not be required to include their contributed revenue in the calculation to determine if they had at least a 90%, 70% or 25% revenue loss between April 2020 through December 2020, in comparison to 2019. Please also note, none of the federal CARES Act funds need to be included in the revenue calculations either.
SBA’s Shuttered Venues website
Other Shuttered Venue Operator Grant (SVOG) News and Resources:· SBA posted a newly updated list of Frequently Asked Questions (FAQs) for Shuttered Venue Operator Grants as of February 12, 2021.· SBA posted a new DUNS and SAM.gov Registration Training Video as of February 18, 2021.· SBA posted a Simple Cross-Program Eligibility Table of various SBA programs that you can and cannot apply for simultaneously.· Regularly visit the SBA website for SVOG updates on their upcoming webinars and other technical assistance.
Arts Action Fund List of Key Eligibility Guidelines for SVO Grants:
Congress Releases Details of the Next COVID Relief Bill:
Today, Congress released the first public consolidated draft of the massive $1.9 trillion COVID Relief bill implementing much of President Biden’s American Rescue Plan. Last week, the Arts Action Fund sent everyone an update on February 11th,which highlighted in red all the key components of this new relief bill that will expressly benefit the arts.
Upcoming SVO Webinar & Zoom Office Hours
We will email you with the new date and time for our second part webinar on SVO grants as soon as SBA releases its official guidelines. In the meantime, the Arts Action Fund posts all COVID-19 economic resources at www.ArtsActionFund.org/COVID19Resources.
In the meantime, join me for Zoom Office Hours with Nina every Friday at 11:00 am ET to answer your questions. You can also still take action and contact your Members of Congress to pass the upcoming COVID Relief legislation.
Stay safe and stay tuned for more.
Nina Ozlu Tunceli