Posted by Hannah Feingold on 07.22.21

The US Small Business Administration has established a new program to aid small business venues affected by covid-19. The Shuttered Venue Operators Grant (SVOG) includes over $16 billion in grants for qualifying businesses. Eligible businesses include: live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theater operators (including owners), and talent representatives. Venues or promoters who received a PPP loan on or after December 27th, 2020, will have their grant reduced by the PPP loan amount. Businesses that started operating after February 29, 2020 are not eligible.
       Grant amounts will depend on when a business began operating. For entities in operation on January 1st, 2019, grants will be for an amount equal to 45% of their 2019 gross earned revenue. For entities that began operating after January 1st, 2019, grants will be for the average monthly gross earned revenue for each full month the entity was in operation during 2019 multiplied by six. The grant amount for any entity cannot exceed $10 million. 
       Priority will be given to businesses in three stages. First priority goes to entities hat suffered a 90% or greater gross revenue loss between April 2020 through December 2020. Second priority applies to businesses that suffered a 70% or greater loss, and third priority goes to entities that suffered a 25% or greater loss. Supplemental funding is available after all Priority Periods have passed. 
       Eligible entities can apply now at the US Small Business Administration website, sba.gov.