After a devastating year of closure due to the COVID-19 pandemic, America’s performing arts venues have emerged — like the actors, musicians, and performers who normally frequent these stages — battered, and bruised. Many venues are barely alive.
So the news on Thursday from the Small Business Development Center that the SBA will reopen its ‘Shuttered Venue Operators Grant (SVOG) on April 8 is welcome news.
The 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 equal to 45 percent of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees. Those eligible include:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators, zoos and aquariums who meet specific criteria
- Motion picture theater operators
- Talent representatives
- Each business entity owned by an eligible entity that also meets the eligibility requirements
The venues must have been in operation as of February 29, 2020.
For a full list of requirements, click here