Help is here with $16.2 billion for venues, theaters, and more
Vermont Business Magazine The US Small Business Administration will officially open the Shuttered Venue Operators Grant (SVOG) application portal today, April 8, 2021 at 12 pm EDT for operators of live venues, live performing arts organizations, museums and movie theaters, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic.
“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. We know that for the stage and venue operators across the nation that help make this culture happen, the pandemic has been devastating. Too many have been forced to lower the final curtain on their bu
SBA allots $16.2B in grants for shuttered venues: Application period opens Thursday
Updated 11:35 AM;
Today 11:35 AM
Owners of shuttered live performing arts organizations, museums and movie theaters can apply for grants from the U.S. Small Business Administration beginning at noon on Thursday. (Staten Island Advance/Victoria Priola)
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STATEN ISLAND, N.Y. Owners of shuttered live performing arts organizations, museums and movie theaters can apply for grants through the U.S. Small Business Administration (SBA) beginning at noon on Thursday, April 8.
Many of these venues have been closed for a year due to the coronavirus (COVID-19) pandemic. And they can now apply for grants for which $16.2 billion has been made available through the Shuttered Venue Operators Grants (SVOG).
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The American Rescue Plan Act of 2021, which was signed into law on March 11, 2021, includes relief provisions for restaurants and other similar businesses. The Small Business Administration (SBA) will administer the Restaurant Revitalization Fund grant program. The grant amount generally equals the excess of 2019 gross revenues, over 2020 gross revenues.
Subject to further guidance, once a business receives the grant proceeds, they must use the proceeds on eligible expenses, but there is no requirement to spend a certain minimum percentage of the grant proceeds on a specific type of eligible expense (payroll, for example). The SBA is expected to make applications available in the coming weeks. The provisions include the following:
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