As part of the December 2020 COVID relief legislation, Congress approved $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.
You can learn more details about the program here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant#section-header-6
SBA is in the process of setting up the grant program and is not yet accepting applications. Top priority will go to those venues that sustained a 90% or greater revenue loss between April 2020 and December 2020.
Eligible applicants may qualify for Shuttered Venue Operator (SVO) Grants equal to 45% of their 2019 gross earned revenue, with the maximum amount of $10 million for a single grant award.
Entities eligible to apply include:
•Live venue operators orpromoters
•Theatrical producers
•Live performing artsorganization operators
•Relevant museumoperators, zoos and aquariums who meet specific criteria
•Motion picture theateroperators
•Talent representatives,and
•Each business entityowned by an eligible entity that also meets the eligibility requirements
Other requirements of note:
– Must have been in operation as of February 29, 2020.
– Venue or promoter must not have received a PPP loan on or after December 27, 2020.
