SBA launches application portal for Shuttered Venue Operators Grant
Courtesy / Biddeford City Theater
Venues hurt by the COVID-19 pandemic may be eliglble for Shuttered Venue Operators Grants through the SBA. Seen here, balcony view of the Biddeford City Theater stage in Biddeford.
The U.S. Small Business Administration has launched an information page and portal for its Shuttered Venue Operators Grant program, and will begin taking applications April 8.
The program was established with $15 billion through the Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act, with an additional $1.25 billion added through the recent American Rescue Plan.
To be eligible, venues must have been in operation as of Feb. 29, 2020. Eligible entities in operation on Jan. 1, 2019, may be able to get a grant equal to 45% of their 2019 gross earned revenue or $10 million, whichever is less. Venues that began operation after Jan.1, 2019, may get grants for the average monthly gross earned revenue for each full month in operation during 2019 multiplied by six, or $10 million, whichever is less.
Some $2 billion is reserved for eligible applications with up to 50 full-time employees. Businesses that applied for the Paycheck Protection Program after Dec. 27 may also apply for the SVOG, with the SVOG reduced by the PPP amount.
Eligible venues include:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators, zoos and aquariums that meet specific criteria
- Motion picture theater operators
- Talent representatives
- Each business entity owned by an eligible entity that also meets the eligibility requirements.
The money may be used for payroll, rent, mortgage, utilities, and a variety of other expenses.
“Help is here for venue operators hit hard by the COVID-19 pandemic," SBA Administrator Isabella Casillas Guzman said in a news release. "The SBA has worked diligently to build the Shuttered Venue Operators Grant program from the ground up to assist and address the diverse eligibility requirements of each type of applicant.
"The SBA knows these venues are critical to America's economy and understands how hard they've been impacted, as they were among the first to shutter," Guzman said. "This vital economic aid will provide a much-needed lifeline for live venues, museums, movie theatres and many more.”
The SBA will host a national informational webinar to highlight the application process for potential eligible entities from 2:30-4 p.m. on Tuesday, March 30.
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