PPP Funds Run Out

PPP

The U.S. Small Business Administration (SBA) stopped accepting new Paycheck Protection Program applications from most lenders since the funds have now run out, about a month ahead of the May 31 deadline. However, there are some remaining funds for the $8 billion that was set aside for community financial institutions, which typically support underserved communities.

If you have questions about your PPP loan or forgiveness, please contact DHJJ.

Related Insight: PPP Loan Forgiveness – News for PPP Borrowers of $50,000 and Below

Shuttered Venue Operators Grant

Who Can Apply

Eligible entities include:

• Live venue operators or promoters
• Theatrical producers
• Live performing arts organization operators
• Museum operators
• Motion picture theater operators (including owners)
• Talent representatives

Other requirements of note:

• Must have been in operation as of February 29, 2020
• Venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount

For more information on the application, as well as detailed Frequently Asked Questions, please visit the SBA site at: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/shuttered-venue-operators-grant#section-header-1

If you have questions on application or other COVID-19 programs, please contact DHJJ.