The Shuttered Venue Operators (SVO) Grant will provide financial assistance to live venue operators.
By Claire Ghantous
The U.S. Small Business Administration Office of Disaster Assistance is administering a grant program that will be available for certain venues which were severely affected during the Covid-19 pandemic. The Shuttered Venue Operators (SVO) Grant program was signed into law in December of 2020, and it will provide $15 billion in grants as emergency assistance.
Those deemed eligible for the grant 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.
To be eligible, a business must have been in operation as of Feb. 29, 2020, and the venue or promoter must not have received a PPP loan on or after Dec. 27, 2020. The maximum amount for a single grant is $10 million, however, $2 billion is being reserved for those eligible who have up to 50 full-time employees.
The SBA is planning to issue the SVO Grants on a priority basis. The first 14 days of grant awards will be given to First Priority, and the 14 days after that will be given to Second Priority. Third Priority awards will be given out 28 days later. Supplemental Funding will be available after First and Second Priority. For more information on the requirements for each priority, visit the Shuttered Venue Operators Grant website. : sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant#section-header-6
While the SBA is setting up this grant program, the applications are not yet accessible, but sba.gov/coronavirusrelief webpage has information as to when the application process will be available. Additionally, you can view a YouTube webinar for further information: https://youtu.be/PdfQGb6z-gg
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