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Lawmakers Urge SBA to Speed Up Grants to Shuttered Venues

June 16, 2021, 8:40 PM

Over 200 members of Congress are demanding the Small Business Administration provide faster relief payments to shuttered venues.

The Shuttered Venue Operations Grant was established by a December 2020 law (Public Law 116-260) to support venue operators as the pandemic continued its toll on small businesses. But the program’s rollout has hit several obstacles, adding to economic instability and uncertainty for venue operators.

  • The grant program’s application portal crashed on April 8, delaying its opening to April 28, which lawmakers say has slowed down application reviews and funding distribution.
  • Only 411 grants have been approved out of the 14,000 applications submitted as of June 14, according to the Office of Disaster Assistance.
  • Lawmakers are asking the SBA when businesses can expect the funds to disburse, what is causing the delays, and whether Congress should step in to expedite the process.

To contact the reporter on this story: Isabelle Sarraf at isarraf@bloombergindustry.com

To contact the editors responsible for this story: Sony Kassam at skassam1@bloombergtax.com; Jeff Harrington at jharrington@bloombergindustry.com

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