{"id":112355,"date":"2026-08-19T19:24:10","date_gmt":"2026-08-19T19:24:10","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/sba-refers-34-million-in-past-due-svog-debt-to-u-s-treasury-for-collection\/"},"modified":"2026-08-19T19:24:10","modified_gmt":"2026-08-19T19:24:10","slug":"sba-refers-34-million-in-past-due-svog-debt-to-u-s-treasury-for-collection","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/sba-refers-34-million-in-past-due-svog-debt-to-u-s-treasury-for-collection\/","title":{"rendered":"SBA Refers $34 Million in Past-Due SVOG Debt to U.S. Treasury for Collection"},"content":{"rendered":"

Agency works to recover pandemic-era \u201cShuttered Venue Operators Grants\u201d that went to celebrities and Hollywood agents<\/em><\/p>\n

WASHINGTON, Aug. 19, 2026 (GLOBE NEWSWIRE)<\/a> — WASHINGTON \u2014<\/b> Today, the U.S. Small Business Administration<\/a> (SBA) announced it has referred<\/a> its first tranche of unresolved Shuttered Venue Operators Grant (SVOG) awards to the U.S. Department of the Treasury for collection, marking another milestone in the agency\u2019s continued efforts to recover pandemic-era relief funds and protect taxpayer dollars. The initial referral includes SVOG awards totaling $34 million in outstanding debt, including principal, applicable administrative costs, and accrued interest. The awards were referred for collection after recipients failed to resolve outstanding repayment obligations through the SBA\u2019s established debt resolution process.<\/p>\n

\u201cUnder the Biden Administration, the SVOG program became one of the biggest cash-grabs of the pandemic. For the last year, the Trump SBA has been working to recoup funds meant for struggling small arts and entertainment businesses that ended up lining the pockets of celebrities, music artists, and elite talent agents,\u201d said SBA Administrator Kelly Loeffler.<\/b> \u201cToday\u2019s $34 million referral to the Treasury Department is only the first one, and makes clear that this Administration will continue to use every lawful tool to claw back unmerited SVOG payments. We are restoring accountability across the federal government with a zero-tolerance policy for waste, fraud, and abuse, and pursuing every lawful avenue to recover taxpayer dollars and hold fraudsters accountable.\u201d<\/p>\n

The SVOG program offered emergency assistance to eligible small businesses who were live venue operators or promoters, theatrical producers, performing arts organizations, museums, motion picture theaters, and talent representatives affected by the COVID-19 pandemic. The program was authorized with $16.25 billion to support eligible venues and related businesses impacted by pandemic-related revenue losses. Applicants could qualify for grants of up to $10 million.<\/p>\n

Almost immediately, program oversight deteriorated. Following pressure<\/a> from lawmakers in 2021, the Biden Administration directed<\/a> staff to \u201cpresume applicant assertions to be true\u201d and expedite SVOG approvals by taking no more than four hours to review each application under $500,000. As many as two-thirds of approved applicants were on Treasury\u2019s Do Not Pay List. The SBA Office of the Inspector General (OIG) subsequently identified<\/a> approximately $544 million in potential improper SVOG payments and found that 2,590 SVOG awards valued at approximately $4.8 billion remained open more than a year after they were required to be closed.<\/p>\n

Since 2025, the Trump SBA has taken significant steps to recover SVOG funds that were improperly awarded or remain outstanding. In June 2025, the agency began issuing rescission and demand letters to recipients identified for repayment, providing grantees with an opportunity to appeal determinations or enter into repayment agreements before additional collection actions were pursued. To date, the agency has recouped over $50 million in voluntary and involuntary payments.<\/p>\n

Today\u2019s referral marks another milestone in the SBA\u2019s SVOG recovery efforts. As the agency continues reviewing awards and resolving payment obligations, additional referrals to the U.S. Department of the Treasury may be made when recipients fail to repay funds owed to the federal government, reinforcing the SBA\u2019s commitment to protecting taxpayer dollars. <\/p>\n

# # #<\/i><\/p>\n

About the U.S. Small Business Administration<\/b><\/p>\n

The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov<\/a>.<\/p>\n

CONTACT: SBA HQ Press Team\r\nU.S. Small Business Administration\r\npress_office@sba.gov\r\n<\/pre>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Agency works to recover pandemic-era \u201cShuttered Venue Operators Grants\u201d that went to celebrities and Hollywood agents WASHINGTON, Aug. 19, 2026 (GLOBE NEWSWIRE) — WASHINGTON \u2014 Today, the U.S. Small Business Administration (SBA) announced it has referred its first tranche of unresolved Shuttered Venue Operators Grant (SVOG) awards to the U.S. Department of the Treasury for […]<\/p>\n","protected":false},"author":2,"featured_media":112356,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/media\/YWMwYjIxZjQtZGM1Yy00MjMzLWEwNjItZTM4YjdlZmIzNzg0LTUwMDEzMDI0OC0yMDI2LTA4LTE5LWVu\/tiny\/U-S-Small-Business-Administrat.png","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-112355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t