Front and Center: SVO Grants through the SBA

[co-author: Laura Peterson] -

Originally published on December 30, 2020 and updated as of March 10, 2021.

The Consolidated Appropriations Act, 2021 (the “CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020.  Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”), introduces a new $15 billion grant program through which the U.S. Small Business Administration (the “SBA”) will provide aid to struggling live venue operators and certain related businesses.  This program offers a critical lifeline from the Federal government for the nation’s performing arts venues, movie theatres and museums.  Grants made under such program are referred to by the SBA and in this publication as “SVO Grants”.

This article details the key terms of the SVO Grant program and incorporates further guidance issued by the SBA in response to certain Frequently Asked Questions (the “FAQs”), which were recently updated on February 28, 2021 (the “2/28/21 FAQs”) and March 5, 2021 (the “3/5/21 FAQs”).

Please see full Publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Proskauer Rose LLP | Attorney Advertising

Written by:

Proskauer Rose LLP
Contact
more
less

Proskauer Rose LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.