Originally published on December 30, 2020 and updated as of April 26, 2021.
The SVOG application opened on Monday, April 26, 2021 at 12pm (EDT). Given that funds are limited and the program is on a “first come, first served” basis, it is imperative that potential applicants are prepared in advance. On Friday, April 23, 2021 the SBA published an updated set of FAQs, which include some important changes that affect both eligibility and the application process. Proskauer’s interdisciplinary Coronavirus Taskforce addresses the latest updates and changes to the program, including the recently released FAQs, in order to assist potential applicants navigating this complicated program.
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Proskauer’s cross-disciplinary, cross-jurisdictional Coronavirus Response Team is focused on supporting and addressing client concerns. We will continue to evaluate the American Rescue Plan Act, the CARES Act, the Consolidated Appropriations Act, 2021, related regulations and any subsequent legislation to provide our clients guidance in real time. Please visit our Coronavirus Resource Center for guidance on risk management measures, practical steps businesses can take, and resources to help manage ongoing operations.