SBA Closed Site Grant Application Checklist – Billboard

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The Small Business Administration (SBA) on Friday, March 5, released a preliminary application checklist for companies wishing to apply for the Shuttered Venue Operators Grant (SVOG) program. While the application or application date is still pending, the checklist will help freelancers who are considering applying prepare the proper paperwork needed to receive much-needed funding as soon as possible.

Located on the SBA website, the checklist states that all applicants will need a written statement of needs and insurance, corporate documents, government-issued photo ID, a list of employees with job titles position and employment status such as full or part time, and a tax exemption letter if the business is a non-profit organization.

Financial documents needed for the application will include 2019 and 2020 tax returns and quarterly tax returns. The SBA will also require pay stubs covering February 29, 2020 and a copy of the most recent audited financial statements for 2019.

According to the checklist, “The SVOG application process is still under development and this list is subject to refinement.” The document adds that “This is not an exhaustive list and additional documentation may be required to address eligibility and compliance.”

The checklist also details the different types of documents that will be required by the various businesses that can benefit from these funds, from concert halls to cinemas, museums and talent representatives. The longest list of documentation needed is for venues and promoters who will need to prepare floor plans and documents showing that the venue has audio mixing equipment, lighting and a system. of sound system. Venue operators will also be required to show marketing materials with event titles and ticket prices and box office/box office reports showing the date, ticket price and number of tickets sold.

Talent representatives will be required to provide sample contracts with the talents they represent and the locations they have worked with. A list of persons or acts represented between 2019 and 2020 will also be required.

The preliminary checklist goes on to indicate what documentation will suffice for each requirement to help companies prepare. After nearly 10 weeks, the preliminary checklist gives venues a better understanding of the scope of what will be required to receive up to $10 million from SVOG.

In the meantime, the Senate has proposed a amendment to the SVOG program that would allow venues to apply for the new Paycheck Protection Program (PPP2) loan round that ends on March 31. At present, those seeking SVOG funds cannot receive PPP2 money or it would make them ineligible for grants. The amendment is currently part of the latest stimulus package making its way through Congress.

To manage here for the complete preliminary checklist provided by the SBA.

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