Originally published on December 30, 2020 and updated as of August 16, 2021.
The SBA announced that the SVOG application portal will close on Friday, August 20 at 11:59pm Pacific Time. Applicants should submit their applications prior to that time. The SBA has also indicated that grantees who have received their initial loans will be receiving emails concerning their eligibility for supplemental grants. The SBA also published guidance about an appeals process for applicants whose applications were denied and a reconsideration process for applicants who received at least $100 less than the amount they applied for. 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.
* * * * *
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.