WASHINGTON, D.C. – U.S. Representative Peter Meijer (R-MI) this week joined a bipartisan group of his colleagues in sending a letter to the Small Business Administration urging the expedited release of Shuttered Venue Operations Grant (SVOG) funds.
Excerpt from the letter:
“For over a year, we have consistently heard from venue operators about the unprecedented and unsustainable economic impacts the COVID-19 pandemic had on their small businesses. This community was relieved when the SVOG program was created in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act in December of 2020 and additional funding was added as a part of the American Rescue Plan.
“However, the rollout of this program and the release of funds is of great concern to us and many of our constituents. In addition to the initial crash of the application portal on April 8th and delay of the opening to April 28th, there has been a significant delay in the processing of applicants and awarding of funds. According to the Office of Disaster Assistance, as of June 14, the SBA has only approved 411 grants out of the over 14,000 applications submitted, and nearly half of the applications have not yet reached the review stage.
“The slow pace is becoming increasingly untenable for the small businesses in our districts. Their banks have threatened to call in the full amount of small business loans, they do not have the funds to pay their landlords full rent, and they cannot retain staff. We are hearing from venue operators who are days away from closing their doors if these funds are not sent soon. These small businesses not only provide good jobs and contribute economically to our local communities, they also contribute to the spirit and local culture as well. We must act now.
“We understand the complexity and difficulty of managing a program of this size; however, we request the disbursement of funds be expedited immediately.”
Original source can be found here.
