According the the organization, a further $1 billion has also been approved, though not yet deposited in accounts.
As of today (June 30), the Small Business Administration has delivered $1 billion in Shuttered Venue Operator Grant funds to the accounts of independent promoters, venues, movie theaters and more, according to the organization. The SBA informed those on the daily SVOG stakeholders call this morning that another $1 billion in funds has been awarded to businesses, but has not yet been deposited in their accounts.
The SBA has seen a faster rollout of award notifications in the past two weeks after failing to deliver all Priority 1 businesses -- those who lost 90% or more of their revenue in 2020 -- in the first 14 days of funding.
According to this morning's stakeholders call, 2,919 award approval letters have gone out in total. Another 2,929 award notifications have been queued up to go out. An additional 265 applicants have received decline notices, with another 1,400 set to be declined.