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SBA Opens Supplemental Grant Applications for Shuttered Venue Operators Grant Awardees

Village 8/Baxter Avenue Theatres Receive First SVOG in Kentucky
Release Date: 
Monday, August 30, 2021
Release Number: 
21-0830KY
Contact: 
michael.ashcraft@sba.gov

The U.S. Small Business Administration announced it will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program. Per the Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act, SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated a 70% loss when comparing 2021’s first-quarter revenues to the same in 2019. Thus far, approximately $9 billion has been awarded in initial SVOGs to more than 11,500 venues, providing a critical lifeline for theaters, live venue spaces, and other entertainment and cultural hubs as they recover from the pandemic, re-open in many communities across the nation and continue contributing to local economies.

“The SBA has awarded approximately $9 billion in crucial relief to approximately 11,500 performing arts venues and other related businesses so they can continue to anchor our neighborhoods and define our communities. We know many of these businesses still need assistance to fully recover from the unanticipated expenses and debt caused by the pandemic,” SBA Shuttered Venue Operators Grant Program Director Matthew Stevens said. “These supplemental grants will go to the hardest-hit Shuttered Venue Operators Grant awardees to ensure they can get back on their feet and get back to the business of driving our nation’s economy.” Awards are expected to begin going out within two weeks.

Supplemental award applicants can choose to apply for any amount up to 50% of their original SVOG amount, with a $10 million cap of the initial and supplemental awards combined, according to the law. The supplemental awards also allow SVOG recipients to extend the time to use their grant funds for expenses accrued through June 30, 2022 and lengthen their budget period to 18 months from the initial grant’s disbursement date.  SVOG is one of the many programs that the SBA has facilitated that has provided more than $1 trillion in relief for America’s communities during the pandemic.

If sufficient funding is not available for all eligible entities to receive a supplemental award, priority will be given to applicants who have illustrated the greatest revenue loss in the first quarter of 2021 compared to the first quarter in 2019.

Apex Theatres, which operates Village 8 Theatres and Baxter Avenue Theatres in Louisville, was among the first businesses in the state to receive an SVOG. The latest data shows that 104 live entertainment small businesses, nonprofits, and venues in Kentucky have been awarded SVOGs worth almost $67 million.   

Mr. Leslie Aberson, President and CEO of  Apex Theatres, stated, “The SVOG Award from the SBA has enabled Apex to survive after a very challenging 15 months. With the grant, Apex has been able to pay its operational expenses, including back-pay of salaries, deferred rent, and capitalized expenses. This includes replacement of HVAC units and repair of projectors and other theatre equipment. The grant has provided the much-needed financial stability to keep our company in business.”

Aberson continued, “Apex has also served the community with its work friendly environment, offering employment to people with disabilities, along with employees who enjoy working with our local community, hosting film festivals, exclusive premieres, and screenings for local filmmakers. We thank the SBA, along with our investors, our landlord, Norton Healthcare and Metts Real Estate, as well as Commonwealth Bank & Trust, who have been helpful and supportive during such a difficult time.”          

For additional information on SBA’s Economic Relief programs, visit COVID-19 relief options. Further, SBA’s resource partners, including SCORE Mentors, Small Business Development Centers (SBDCs), Women’s Business Centers (WBCs), and Veterans Business Outreach Centers, are available to provide entities with individual guidance on their applications. Applicants can find a local resource partner via a zip code search at  https://www.sba.gov/local-assistance. For weekly SVOG funding data reports, visit www.sba.gov/svog.  

Shuttered Venue Operators Grant background: The SVOG program was appropriated more than $16.2 billion for grants via the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, and the American Rescue Plan Act. Of these funds, at least $2 billion is reserved for eligible SVOG applications with up to 50 full-time employees. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue up to a maximum amount of $10 million for a single grant.   

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