Pending Legislation May Fix Problems with PPP and Shuttered Venue Operators Grant

March 10th, 2021, 1:43 PM

Currently, businesses cannot apply for both a Paycheck Protection Program loan and for the Shuttered Venues Operating Grant ("SVOG") program.

This has created issues for some businesses because the SVOG application is still not available, and the PPP program is supposed to end on March 31st.

The American Rescue Plan Act, currently before the House (and already passed by the Senate) may change that.  

It would allow businesses to apply for a PPP loan, but then reduce their SVOG grant by the amount of the PPP loan.

The SVOG will likely provide larger amounts of money to certain types of businesses, and the allowable expenses for those business are much broader than the PPP.

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