The U.S. Small Business Administration is reopening the Shuttered Venue Operators Grant application portal at 12:30 p.m. Saturday for operators of live venues, movie theaters and more to apply for economic relief, it said Friday.
The grant program was appropriated more than $16.2 billion in COVID-19 relief funding, with at least $2 billion reserved for eligible applicants with up to 50 full-time employees.
“We recognize the urgency and need to get this program up and running,” Barb Carson, deputy associate administrator of the SBA’s Office of Disaster Assistance, said in a prepared statement. “With venue operators in danger of closing, every day that passes is a day that these businesses cannot afford. We remain dedicated to delivering emergency aid as quickly as possible, and will begin reviewing the applications on Saturday as they are submitted.”
Eligible entities include live venues, live performing arts organizations, museums, movie theaters, live venue promoters, theatrical producers and talent representatives, the SBA said. Applicants can qualify for grants up to 45% of gross earned revenue, with a maximum of $10 million.
The agency said eligible applicants should register in advance. (Click here for more.) Applicants will need a smartphone and multifactor authenticator app to register. Applications will be accepted on a first-in, first-out basis.
The first 14 days of awards, expected to begin in mid-May, is dedicated to entities that suffered a 90% or greater revenue loss between April and December 2020, with the next 14 days including entities that suffered a 70% or greater loss, and the subsequent process including entities that suffered a 25% or greater revenue loss from one quarter of 2019 to the corresponding quarter of 2020.
The SBA has updated its application portal since the initial opening April 8, it said, in response to feedback and concerns from applicants in the earlier round.
Click here for more information, or call 800-659-2955 for assistance (or 800-877-8339 for the deaf and hard of hearing).
