SBA
Announces
Shuttered
Venues Operators Grant
Applications Open April
8
The Small Business Administration (SBA) has launched a
notification system for the forthcoming Shuttered Venue
Operators Grant (SVOG) portal, which is currently
scheduled to open on Thursday, April 8.
A free
informational webinar will be held Tuesday, March 30th at 1:30 p.m. CST to
assist applicants with preparing the necessary information. Click here to
register.
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% 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. Eligible entities may be live venue operators or promoters,
theatrical producers, live performing arts organization operators, museum
operators, motion picture theatre operators, and talent representatives, and
more per the Economic Aid Act.
Please
see the detailed information about eligibility and funding at the SBA's FAQ
documents.
To be ready to seize this opportunity on April 8 eligible
constituents should prepare the following:
More information can be found at: www.svograntportal.sba.gov
Further SBA Assistance for Organizations
New Paycheck Protection Program (PPP) loan applications are due March 31. These must be submitted by your bank or lender. Arts Action Fund compiled these helpful links to find possible alternative, smaller banks with later deadlines, if you have been experiencing long delays.
- Approved PPP lenders in your area
- PPP Lender Match
- Contact your SBA District Office for assistance
2020 Economic Injury Disaster Loans (EIDL) have been automatically deferred for twelve more months. Read more.
