(CelebrityAccess) — On Monday, the Small Business Administration shared an update on the Shuttered Venue Operator Grant program, revealing that they have notified 6,610 applicants that they are eligible for grants.
That figure represents a little more than a third of the more than 15,000 applications submitted to the program.
According to the SBA, they have reached a decision on 5,902 applications, with an additional 1,694 applications currently under review.
As of Monday, 440 applications have been denied, while the review process has yet to begin for 380 applications, many of which have likely been received recently.
The SBA said that as of Monday, $3.3bn have been disbursed, from a total of $5.0bn awarded to applicants thus far with the average grant totaling $758K.
In total, the SBA said it received $11.8bn in grant requests for financial assistance through the program since it went live on April 26th.