SRD grant extension

The Small Business Administration’s (SBA) Shuttered Venue Operators Grant (SVOG) program, also known as the SRD grant, was created to provide relief to live entertainment venues that have been affected by the COVID-19 pandemic. The program has been a lifeline for many venues across the country, but many have been waiting for news of an extension to the program as the original funds allocated to the program have been exhausted.

On April 26, 2021, the SBA announced that it would be extending the SRD grant program to allow eligible venues to apply for additional funding. The extension came as welcome news for many small businesses that had been left out of the initial rounds of funding due to high demand.

The SRD grant program provides eligible venues with a grant equal to 45% of their gross earned revenue, up to a maximum of $10 million. The funds can be used for a variety of expenses, including payroll, rent, utilities, and personal protective equipment (PPE). The program is designed to help businesses cover the costs associated with reopening and getting back to normal operations after the pandemic.

The initial funding for the program was $16.2 billion, and it was quickly exhausted due to the overwhelming demand from eligible businesses. The SBA received over 14,000 applications in the first two days of the program’s opening. As a result, many eligible businesses were left without funding.

The extension of the SRD grant program will allow eligible businesses to apply for additional funding, giving them a second chance to receive the financial support they need to survive. The SBA has not yet announced how much additional funding will be available or when applications will reopen.

Businesses that were eligible for the initial round of funding will be able to apply for the extension. Additionally, businesses that were not eligible for the initial funding due to timing restrictions may also be able to apply. The SBA has stated that it will prioritize businesses that have suffered the greatest revenue loss first.

The SRD grant extension is a much-needed lifeline for many small businesses in the live entertainment industry. It provides the financial support necessary to help businesses survive and thrive in the post-pandemic world. Business owners should keep an eye on the SBA website for more information on when the application process for the extension will reopen and how to apply.

Need Information or Confused about Something ?

Ask a Question

Did You Know : Top 15 Free Online Learning Platforms

  1. Free Online Education Degrees : Coursera:

    Coursera partners with universities and organizations worldwide to offer a wide range of courses. While many courses are free, a fee is often required for certification.

  2. Free Online Education Degrees: edX:

    Founded by MIT and Harvard, edX offers high-quality courses from top universities and institutions around the world. Certificates are available for a fee.

  3. Free Online Education Degrees : Khan Academy:

    Khan Academy provides free educational content in various subjects, especially mathematics and science, using instructional videos and practice exercises.

  4. Free Online Education Degrees : Udacity:

    Udacity focuses on tech-related courses and nanodegree programs, offering free content as well as more in-depth paid programs.

  5. Free Online Education Degrees : MIT OpenCourseWare (OCW):

    MIT OCW provides a vast array of MIT's course content for free, covering a wide range of disciplines.

  6. Free Online Education Degrees : Harvard Extension School:

    Harvard Extension School offers a selection of free online courses. While some courses are free, others may require payment for a certificate.

  7. Free Online Education Degrees: Stanford Online:

    Stanford Online offers a variety of free courses in different disciplines, including computer science, engineering, and business.

  8. Best Free Online Courses : Carnegie Mellon Open Learning Initiative (OLI):

    OLI offers free online courses and resources designed to improve learning outcomes through research-based methodologies.

  9. Best Free Online Courses : FutureLearn:

    FutureLearn partners with universities and institutions to offer a diverse range of free online courses. Certificates are available for a fee.

  10. Best Free Online Courses: Alison:

    Alison offers a wide range of free online courses, including diploma and certificate programs, covering various subjects.

  11. Best Free Online Courses: Open Yale Courses:

    Yale University provides free access to a selection of introductory courses through Open Yale Courses.

  12. Best Free Online Courses : UC Berkeley Online:

    UC Berkeley offers free online courses on a variety of subjects, ranging from computer science to humanities.

  13. Best Free Online Courses : Google Digital Garage:

    Google Digital Garage provides free courses on digital skills, including online marketing, data analysis, and more.

  14. Best Free Online Courses : Codecademy:

    Codecademy offers free coding courses, interactive exercises, and coding projects to help individuals learn programming languages.

  15. Best Free Online Courses : LinkedIn Learning (formerly Lynda.com):

    LinkedIn Learning provides a variety of video courses on professional development, technology, and creative skills. It offers a free trial period.

Related Posts: