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What is the Shuttered Venue Operators Grant (SVOG)?
The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Eligible applicants may qualify for grants […]
How SVOG Funds May Be Used
SVOG funds may only be used for the specific purposes listed below. Grantees are required to maintain documentation demonstrating that they have complied with these uses. Further, as a grantee, you must retain employment records for four years following receipt of funds and you must retain all other records for three years. Payroll Rent Utilities […]
What are the Required Documents for the SVOG?
To assist you with the SVOG application, SBA has prepared the following: FAQs: The list of Frequently Asked Questions (FAQs) answers common questions about the SVOG program, defines terms, and provides additional guidance. Please refer to and carefully review the FAQs for guidance as you complete the SVOG application. Application Checklist: The Application Checklist is […]
Is a Business Line of Credit a Good Idea?
If you are growing your company or need capital to cover everyday expenses, a business line of credit can be a good idea. If you need fast access to funds, you could apply for a loan; however, that could take too long to help you with your urgent requirements. Additionally, about 30% of small business […]
Why Would a Business Need Payroll Financing?
Every business experiences lean times when more cash seems to be flowing out than in. That’s when you are required to make hard choices about the bills to pay now and what can wait. Payroll is an operating cost you can’t delay. After all, your employees are the lifeblood of your operations, so getting them […]
How to Manage a Business Line of Credit
Having several different financial resources to choose from is helpful when expanding your business. Flexibility allows your company to adapt to change, especially during periods of uneven cash flow or growth. A business line of credit is an essential financial tool for many entrepreneurs. However, you need to be sure you can manage it. If […]
What Small Business Administration (SBA) Loans Does Revenued Provide?
The U.S. federal government offers loans and grants through the Small Business Administration (SBA) to assist entrepreneurs and small businesses in need of financing. These loans are provided by approved lenders and backed by the SBA. Revenued does not directly provide SBA loans; however, we have assisted businesses in applying for an SBA loan known […]
What Is a Merchant Cash Advance?
A merchant cash advance (MCA) is a financing option that quickly provides cash for businesses. It is designed for small business owners who need money but don’t meet a traditional loan’s credit requirements. A traditional loan might be a better option for businesses with long operational histories and more substantial credit scores. However, for companies that […]
What Are Some Small Business Funding Options
Entrepreneurship is risky. Although four out of five small businesses survive their first year, only one out of three make it to the 10-year mark. The potential benefits of small business ownership are alluring — the freedom to make your own decisions, set your own schedule, and reap the benefits when the big risks pay […]
How Does an MCA Work?
An MCA, short for Merchant Cash Advance, is an agreement between a business owner and an alternative finance company. The business owner agrees to sell a percentage of the company’s future revenue. Additionally, the MCA provider agrees to buy the future income at a discounted rate — essentially “advancing” future revenue to the company. This […]