[OMS_MANAGERS] FW: Updates on SVOG, PPP Forgiveness

Thu Jul 29 16:55:38 PDT 2021

FYI – note the update on PPP forgiveness!

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[See the latest SVOG Update from the SBA]<http://go.pardot.com/e/565082/ators-grants-over-10000-venues/59xjdc/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>        [See the latest PPP Update from the SBA] <http://go.pardot.com/e/565082/gram-direct-forgiveness-portal/59xjdf/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>         [Join Zoom Office Hours with Nina Fridays @ 11am ET] <http://go.pardot.com/e/565082/OfficeHoursNina/59xjdh/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>

                                                     July 29, 2021

Dear Sheri,

The Small Business Administration (SBA) issued two press releases this week that I wanted to bring your attention.

1.   SBA created a streamlined PPP Forgiveness Portal<http://go.pardot.com/e/565082/gram-direct-forgiveness-portal/59xjdf/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc> for borrowers with individual Paycheck Protection Program (PPP) loans of $150,000 or less to submit simple forgiveness applications directly to SBA, as long as your specific lender participates in the program. The portal opens on Wednesday, August 4, 2021. As a reminder, all PPP borrowers are required to submit forgiveness applications within 10 months of the last day of your covered period in order to convert your loan to a grant that does not need to be paid back. For loans above $150,000, you will need to submit your forgiveness application directly to your bank lender.

2.   SBA issued a Shuttered Venue Operators Grant (SVOG) press release<http://go.pardot.com/e/565082/ators-grants-over-10000-venues/59xjdc/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc> this week to commemorate an important milestone. As of this week, over $7.5 billion has been awarded to more than 10,000 performing arts organizations, museums, movie theaters, theater producers, and talent representatives across the country. SBA is still processing first round awards, but they have assured applicants that they will have enough to also fund second round “supplemental” grants. Once SBA finishes processing all first round awards and requests for higher award reconsiderations and appeals of those who were declined, they will begin the supplemental phase.

a.      SVOG Public Program Report as of 7-26-21<http://go.pardot.com/e/565082/perators-grant-program-reports/59xjdk/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>

b.      SVOG Public Data Report of Grantees as of 7-26-21<http://go.pardot.com/e/565082/dataset-svog/59xjdm/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>

c.      SVOG FAQs as of 7-22-21<http://go.pardot.com/e/565082/red-venue-operators-grant-svog/59xjdp/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc> on program guidance and the process for appealing and requesting reconsideration of a higher award amount.

d.      Upcoming Timeline

§  Finish asap reviewing, awarding/declining, and disbursing funds to first round applicants who applied by June 26, 2021.

§  Appeals process window will open August 2-16, 2021. This is by SBA email invitation only.

§  Reconsideration process window will open August 4-18, 2021 to allow applicants that have been invited by the SBA to request a higher award amount if they believe the SBA has made an error.

§  SVOG portal for NEW applications will close by mid-to-late August. No specific date provided.

§  SVOG Supplemental process will begin on August 23, 2021.

§  SVOG will process all new applications that were submitted after June 26, 2021 on a first-come, first served basis, if funds are still available.

3.   Summer schedule for the Arts Action Fund’s weekly Office Hours with Nina<http://go.pardot.com/e/565082/OfficeHoursNina/59xjdr/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc> on Zoom will take place as follows:

a.      Friday, July 30, 2021 @ 11am – 2pm ET (newly added back on the calendar)

b.      Friday, August 13, 2021 @ 11am – 2pm ET

c.      Friday, August 27, 2021 @ 11am – 2pm ET

d.      Office Office will resume its weekly schedule again on Friday, September 3, 2021

Hope to see you tomorrow at my Zoom Office Hours<http://go.pardot.com/e/565082/officehoursnina/59xjdt/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>!

[http://go.pardot.com/l/565082/2018-11-12/31s714/565082/159479/Nina_signature_email.jpg]
Nina Ozlu Tunceli
Executive Director

To read an archive of Arts Action Fund federal updates, visit COVID-19 Arts Federal Policy Updates & Action Alerts.<http://go.pardot.com/e/565082/COVID19Resources/59xjdw/804973046?h=KyughLNxjhPr_0CFS-wrOf-nG7b-wawv8YU1XyRUioc>

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