Live performance venues, hard hit by the economic effects of the ongoing pandemic, will be able to apply for federal aid on April 8.
The Shuttered Venue Operators Grant Program, which was appropriated $15 billion when it was created in December and an additional $1.25 billion by the American Rescue Plan signed by President Joe Biden, will deliver aid to live music venues, theatres, and independent movie theaters, and other cultural institutions that can demonstrate a revenue loss of 25 percent to address the economic effects of the COVID-19 pandemic.
The SBA will open an informational webinar to review the application process on March 30 from 2:30 to 4 p.m.
SBA Administrator Isabella Casillas Guzman said in a prepared statement that “help is here for venue operators hit hard by the COVID-19 pandemic” and that “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.”
Venues that applied for a Paycheck Protection Program loan after Dec. 27 can also apply for an SVOG with the eligible entity’s SVOG to be reduced by the PPP loan amount.
To prepare for the SVOG application portal opening on April 8, potential applicants should get registered in the federal government’s System for Award Management, reference the preliminary application checklist, and eligibility requirements.