ABSTRACT

SBA Shuttered Venue Operators Grant Program (SVOG) [Updated April 26, 2021]   [open pdf - 1MB]

From the Introduction: "Congressional interest in the Small Business Administration (SBA) has become especially acute in the wake of the Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the U.S. economy, including productivity losses, supply chain disruptions, major labor dislocation, and significant financial pressure on both businesses and households. During the 116th Congress, in an effort to assist small businesses adversely affected by COVID-19, Congress approved legislation that provided the SBA $1.088 trillion in appropriations, a 35,282% increase over the $3.075 billion the SBA received during the 115th Congress. Most of the SBA's funding during the 116th Congress was provided through supplemental appropriations for new and expanded programs, including the Paycheck Protection Program (PPP; $806.45 billion), Economic Injury Disaster Loans (EIDL; $50.02 billion), Emergency EIDL advance (grant) payments ($20 billion), and Targeted EIDL advance (grant) payments ($20 billion). In addition, Congress appropriated $15 billion for a new, Shuttered Venue Operators Grant (SVOG) program. [...] This report examines the SVOG's legislative origins, implementation, eligibility requirements, grant amounts, statutory requirements prioritizing the grant awards to qualified applicants who have suffered the greatest economic loss, allowable use of proceeds, and recordkeeping requirements. It also discusses issues of likely interest to Congress, including oversight of the program's implementation and ways to measure program performance."

Report Number:
CRS Report for Congress, R46689
Author:
Publisher:
Date:
2021-04-26
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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