The United States Small Business Administration (SBA) has opened applications for grant applications from venue operators. The SBA has $16.2 billion in federal funds to help music venues, theatres and more.
The Shuttered Venue Operators Grant (SVOG) offers critical economic relief to those operators who had to close down their museums, movie theaters, nightclubs, and performing arts venues, as well as promoters and producers of live theater and events and talent representatives. As those who had to close and cancel their performances over one year ago, to avoid the spread of the coronavirus, and have yet to restore them in the State of Washington, these industries have been devastated.
“Concerts, plays, dance performances, movie premieres, museum exhibits – these are the lifeblood of culture and community, and often the anchor for travel, tourism and neighborhood food and retail stores. Too many have been forced to lower the final curtain on their businesses. Help is here,” said SBA Administrator Isabella Casillas Guzman. “The SBA is committed to moving as quickly as possible to deliver this vital funding effectively and equitably – ensuring relief goes to those venue operators whose revenues have been most impacted by the pandemic.”
Of the $16.2 billion in grant funds, at least $2 billion is reserved for eligible SVOG applications with up to 50 full-time employees. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue up to a maximum amount of $10 million for a single grant. The SBA is accepting SVOG applications on a first-in, first-out basis, and allocating applicants to respective priority periods as it receives applications.
The SBA has information available about the Shuttered Venue Operators Grants, including Frequently-Asked-Questions, on the dedicated website at www.sba.gov/svogrant
In addition to providing the SVOG funds and a Restaurant Revitalization Fund (click here,) the SBA has a plentiful number of programs aimed to assist small business owners, with COVID-19 recovery as well as generally. The SBA provides resources to make the American dream of business ownership a reality, and provides a voice for small business. Learn more at the SBA.gov website (click here.)