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Funding Sources - help from Central Va. Small Business Center

1) If you have clients/friends that have a shuttered venue, the SVOG portal is now open and we are happy to help with applications. Movie theatres, bowling alleys, other theatre or concert or entertainment venues, etc.  COMPLETE DETAILS

Eligible entities include:

  • Live venue operators or promoters
  • Theatrical producers
  • Live performing arts organization operators
  • Museum operators
  • Motion picture theater operators (including owners)
  • Talent representatives

2) Restaurant Revitalization Fund is opening on Monday, May 3, with pre-registration opening Friday, April 30. The SBA is offering webinars every day this week to help businesses prepare. See details below and please share with your businesses.    COMPLETE DETAILS

Eligible entities who have experienced pandemic-related revenue loss include:

  • Restaurants
  • Food stands, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snack and nonalcoholic beverage bars
  • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
  • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
  • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
  • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
  • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products


3) The SOAR Fund opened today. Again, we are happy to help with applications.

To be eligible for a SOAR Fund loan, a small business must meet the requirements detailed below. Please note that the pre-application should be completed and submitted by the owner of the business with the largest ownership interest, and that all owners with more than 20% ownership will be required to attest to the information provided. 

The following criteria is the minimum required for a business or non-profit to be considered eligible for a loan under this program:

  • The business or non-profit must employ 50 or fewer full-time equivalent (FTE) employees;
  • The business or non-profit must have suffered a direct economic disruption as a result of COVID-19 in a way that has materially impacted operations;
  • The business or non-profit must have been in operation since at least September 2019, unless the business is a for-profit business and meets one of the following additional criteria:
    • The business can demonstrate three or more years of operating experience in the industry through previous ownership or management; or
    • The business has previously borrowed from the community lender and has had no repayment issues

The community lender will collect financial information from each business or non-profit and its beneficial owner(s) and/or guarantor(s) and underwrite based upon the lender’s credit criteria, which vary based on lender.  Lender credit criteria often includes but may not be limited to:

  • The business or non-profit’s (or its guarantor) ability to pay back the loan in full;
  • The ability to make debt payments from revenues;
  • The business or non-profit’s (or its guarantor) history of bankruptcy, delinquency, foreclosure or repossession;
  • Whether there are any outstanding tax liens or judgments against the business or non-profit, and/or its guarantor(s) or beneficial owner(s)


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