On March 5th, the SBA released a Preliminary Application Checklist that walks through documents needed once the application portal opens. This list is a working document and may change as the program continues to evolve, but it is a great reference for all of the information that potential applications should start gathering immediately. An important reminder that applicants are required to register for a DUNS number on the SAM.gov website prior to applying. The DUNS number request may take up to two weeks to process. The SBA also released an Eligibility Requirements ‘Cheat Sheet’ that details general requirements, ownership restrictions, and prohibited activities. It also provides a one-page chart with additional requirements by business type.
The FAQs for SVOG were also updated on March 5th and provide the following clarifying guidance:
- Service and support companies that provide stages, lighting, sound, casts, and other support for live performing arts events are not eligible for SVOG funds.
- Entities whose broader business operations include hosting live performing arts events, such as agricultural fairs or party boats/pleasure cruises that feature concerts are not eligible for SVOG funds.
- Eligible entities that are currently involved in a reorganization form of bankruptcy (such as Chapter 11 or Chapter 13) may apply for SVOG funds. Entities that are undergoing a liquidation form of bankruptcy (such as Chapter 7) are not eligible.
- Entities that submit honest, good faith applications for an SVOG but are denied for failure to meet one or more eligibility requirements will not be subject to penalties. If an entity makes material misrepresentations on its application as part of a fraudulent effort to obtain an SVOG, it will be deemed to have committed perjury and be subject to various civil and criminal penalties as well as potentially being debarred from doing business with the Federal government.
An anticipated opening date for this program has not yet been established. Please see our blog from last week for additional information on the program.
Stay tuned
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