As of noon on Monday, one week after the, the SVOG application portal had received 22,538 applications, according to an SBA rep. Of those applications, 10,300 have been submitted to the SBA, with the remaining 12,238 started but not submitted.
Last week, the SBA said that the most distressed venues — SVOG Priority 1, with 90% annual revenue loss since last March — will receive notice of awards this month and disbursement by the end of May, if they respond in a timely manner to the notice of award. Presumably that would mean in a best-case scenario, Priority 2 would begin receiving funds in mid-June, and Priority 3 in late June or July.
Be all that as it may, the delay in relief funds is preventing these venues from getting back to work: Even with states opening back up, the venues do not have the funding to secure talent or re-hire their staffs, festival promoters aren’t able to secure fields to hold their events, and the ecosystem around much of the live industry remains stalled — five and a half months after Save Our Stages was passed into law.
The upshot? The delay in relief funds is threatening to create a monopoly in the U.S.
nivassoc Sadly one must come to Twitter to find updates SenBobCasey SBAgov
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