With venues especially hard hit during the government-mandated 2020 lockdowns, many businesses are on their last legs while others have closed down altogether. Now, due to the Shuttered Venue Operators Grant (SVOG), such operations can apply for the long-awaited financial grant starting in April via the Small Business Administration (SBA).
As of now, $16 billion worth of relief has been made accessible to venues across the United States, including museums, cinemas, theaters and more, that could potentially reimburse up to 45% of any company’s gross earned revenue. A reported $2 billion of the fund is reserved for venues with up to 50 full-time employees, with the maximum grant award set at $10 million.
SBA Administrator Isabella Casillas Guzman stated: “The SBA knows these venues are critical to America’s economy and understands how hard they’ve been impacted, as they were among the first to shutter. This vital economic aid will provide a much-needed lifeline for live venues, museums, movie theatres and many more.”
Applications open via the System for Award Management (SAM) online portal come April 8th and all eligibility requirements are listed here.
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