The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. Applications are slated to go live on April 8, 2021.
Visit the program application page to sign up for updates.
SBA's Shuttered Venue Operators Grant Program Details:
The Shuttered Venue Operators Grant (SVOG) 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.
Who Can Apply:
Eligible entities include:
Live venue operators or promoters
Live performing arts organization operators
Relevant museum operators, zoos and aquariums who meet specific criteria
Motion picture theater operators
Each business entity owned by an eligible entity that also meets the eligibility requirements
Other requirements of note:
Must have been in operation as of February 29, 2020
Venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount
Grant amounts will reflect either of the following instances:
For an eligible entity in operation on January 1, 2019, grants will be for an amount equal to 45% of their 2019 gross earned revenue OR $10 million, whichever is less.
For an eligible entity that began operation after January 1, 2019, grants will be for the average monthly gross earned revenue for each full month you were in operation during 2019 multiplied by six (6) OR $10 million, whichever is less.
How to Apply:
SBA is building the grant program and expects to open applications in early April. Those who have suffered the greatest economic loss will be the first applications processed under the following schedule:
Note: On January 20, 2021, SBA updated the proposed plan for issuing grants during the first and second priority periods. To clarify, priority awardees will not need to satisfy the small employer set-aside. During the first 59 days of opening SVOG, SBA will reserve no less than $2 billion of program funding for grants to entities that have no more than 50 employees.
First priority First 14 days of grant awards.
Entities that suffered a 90% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.
Second priority Next 14 days of grant awards.
Entities that suffered a 70% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.