Operators of movie theaters, museums, live venues and more are eligible for these new grants.
On April 8, 2021, the Small Business Administration (SBA) launched the Shuttered Venue Operators Grants (SVOG) program to provide economic relief for operators of live venues and performing art organizations, owners of museums and movie theaters, theatrical producers and talent representatives.
Following an application portal suspension due to technical difficulties, SBA has announced they plan to reopen the SVOG application process on Monday, April 26 at 12 PM ET. An updated FAQ has also been published, here.
Eligibility: Federal COVID-19 recovery laws passed in December and March appropriated $16.2 billion for grants to eligible organizations. At least $2 billion is reserved for applicants with 50 or fewer full-time employees. Funding is limited, so small business owners are encouraged to apply early. Applicants must have suffered at least 25% revenue loss between a given quarter of 2019 and the same quarter of 2020. They may qualify for grants up to 45% of their gross earned revenue or $10 million, whichever is lower.
How grants will be awarded: Grants will be awarded on a first-come-first-serve basis until funds run out, but applicants with higher revenue losses will be prioritized. Firstly, for the first two weeks, grants will be awarded first to organizations that suffered a 90% or greater revenue loss between April and December 2020. The following will be dedicated to organizations that suffered a 70% or greater revenue loss in that same period. After that, the remainder of applicants will be considered.
Details on how to apply: The application portal (svograntportal.sba.gov) is expected to reopen on Monday, April 26 at 12 PM ET, but applicants may register for a portal account early. The SBA’s FAQ on these new grants is available here, view their checklist on required documents to apply here, and receive more information via the SBA’s dedicated SVOG website here.
